Cherry Hill Industrial Property Sells for $1.7 Million

| July 10, 2019 | 0 Comments

A bus and fleet transportation maintenance and parking facility at 1400 Cherry Hill Rd. in Cherry Hill sold last week for $1.7 million. The property was the longtime home of Dillon’s Bus Service. It was most recently used by Transdev before it vacated the property.

Gold and Company worked with the owner to list property and matched them with Fourteen Hundred Cherry Hill LLC, an entity of Charm City Builders. From a Gold and Company press release:

The buyers, Tyler Banks and Travis Lauchman stated that “there were many reasons that the property made sense to us, it fit our commercial real estate portfolio.”  They added that “the buildings were very well maintained” and that “heavy industrial zoned contractor storage yards continue to be in high demand in the Baltimore City market.” Proximity to I-95 played a factor in the purchase. They added that “the future development of Westport and Port Covington are all good events for the city and the south Baltimore submarket.”

The property is comprised of 10,000 sq. ft. of drive-in and drive-thru buildings with almost 2.5 acres of paved, fenced yard. Fourteen Hundred Cherry Hill LLC intends to make minor cosmetic improvements and put the property on the market for lease.

Photo below courtesy of Gold and Company

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