The Hampshire Companies Sells 1,035,249-Square-Foot Industrial Building in Hampstead, Maryland
Hampstead, M.D. (November 6, 2013) – The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, has announced the sale of a 1,035,249-square-foot state-of-the-art distribution building located at 630 Hanover Pike in Hampstead, Maryland. The buyer is STAG Industrial, Inc. The property is currently leased to Dart Container.
Built in 2000, the industrial building spans across 51 acres and serves as a cross-docked Class A distribution center. The building boasts many amenities for an institutional quality tenant including high ceilings, full building circulation, motion-sensor T-5 lighting, 85 loading docks and 77 trailer drops. With recent storm regulations imposed by the Maryland Department of the Environment, the coverage ratio for new developments has been significantly reduced leading to increased costs to build similar large distribution centers, giving the property a more favorable position in the future.
“With complete amenities and a superior location, this property offered an investor the unique opportunity to own a premier state-of-the-art distribution center on the East Coast” said Igor Derbaremdiker, a Senior Investment Manager for The Hampshire Companies. “Hampstead has emerged as a desirable business location due to low operating costs and a strong labor pool. The strong credit profile of the tenant also made this an attractive deal for the buyer, allowing us to capitalize on this opportunity.”
The building is located 29 miles from the import/export area of the Port of Baltimore, which ranks first in the United States for roll-on/roll-off cargo and provides access to all of the major consumer markets on the East coast.
Cassidy Turley represented The Hampshire Companies in this transaction.
About the Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on the Hampshire Companies is available online at www.hampshireco.com.