Carroll Community College Leases 10,000 Square Feet In Westminster From Tevis Real Estate
110 Airport Drive
Building Size
10,000 SF
Asset Type
Industrial
Closing
Jul 8, 2026
AI
The property asset involved in this transaction is a 10,000 square-foot industrial facility located at 110 Airport Drive in Westminster, Maryland. This lease transaction allows Carroll Community College to utilize the space for The Ratcliffe Applied Technology & Trades Center as part of an initiative to expand its workforce training programs in skilled trades.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 110 Airport Drive
- Market: Westminster, MD
- Landlord: Tevis Real Estate, Inc.
- Tenant: Carroll Community College
- Brokers: Dennis Boyle, Chris Walsh - MacKenzie Commercial Real Estate Services
This lease agreement, negotiated by Dennis Boyle and Chris Walsh representing Tevis Real Estate, Inc., successfully brings the nearly 20,000-square-foot industrial building to full occupancy. The new training facility is expected to open in October, enhancing educational offerings in plumbing, electrical, welding, and automotive trades at the college.
Players
Airport Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93