Cherry Hill Industrial Property Sells for $950,000

| October 25, 2018 | 0 Comments

A 5,000 sq. ft., 2.3-acre vehicle maintenance facility at 1700 Cherry Hill Rd. sold for $950,000. Authorized Trailer, Inc. sold the property to 1600 Cherry Hill LLC.

While 1600 Cherry Hill LLC is the purchasing entity, Jim Chivers of Gold and Company, which handled the sale of the property, told the new owner is an adjacent neighbor and one of the largest Mid-Atlantic concrete contractors. Chivers noted that the new owner intends to improve the property.

Chivers told that Authorized Trailer, Inc. closed in recent years after the owner developed a severe medical condition.

The property is located across the street from a Light Rail station and a couple blocks from the Middle Branch waterfront.

“The industrial real estate market continues to be active in the Baltimore metro area, including the South Baltimore industrial submarket,” said Chivers. “We continue to see a high demand, mostly because it gives any construction company easy access to serve both the Baltimore and D.C. markets, but not pay the D.C. real estate prices for industrial real estate.”

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