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110 Airport Drive

Carroll Community College Leases 10,000 Square Feet In Westminster From Tevis Real Estate
LEASEDIndustrial

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:

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

Chris Walsh

MacKenzie Commercial Real Estate Services

Broker

$6M

vol

2 deals

Broker
TI
Tevis Real Estate, Inc.Landlord
CC
Carroll Community CollegeTenant

Airport Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

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