Updated May 12, 2025
CRP/THC MD3 Industrial Owner Acquires 27 Acre Industrial Site In Gambrills For $22.5M
Rt 3 N
$22,500,000
$50/SF
Building Size
450,000 SF
Asset Type
Industrial
Closing
May 7, 2025
About this deal
AI
An industrial property located at 749 MD Route 3 North in Gambrills, MD, was sold for $22,500,000. The asset spans 27 acres and offers a total square footage of 450,000, resulting in a price per square foot of $50.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $22,500,000
- Address: 749 MD Route 3 North
- Market: Gambrills, MD
- Acres: 27
- Square Feet: 450,000
- Price per Square Foot: $50
- Buyer's Representative: Dave Dannenfelser & Tyler Boykin - Cushman & Wakefield
- Seller's Representative: Justin Mullen & William Steffey - Hyatt Commercial
Hanover Industrial affiliate CRP/THC MD3 Industrial Owner was the buyer in this transaction. The property was acquired from Baldwin Investors, with the deal brokered by Hyatt Commercial.
On the Map
$22,500,000
$50/SF
Industrial
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Players
Gambrills Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93