Brooklyn Industrial Property Sells for $2 Million
A 4.5-acre industrial property located at 901 Baltic Ave. in Brooklyn recently sold for $2,000,000. The site, which features a 38,000 sq. ft. building, is occupied by industrial Container Service (ICS-MD), a company corporately owned by Mauser Packaging Solutions. The company will remain a long-term tenant.
Mauser Packaging Solutions, a national credit firm with $680-plus million per year in revenue, has more than 180 locations worldwide. The Baltic Ave. location has been used for storage and distribution of the steel and plastic drums the company manufactures and refurbishes. The company has an additional manufacturing facility in Fairfield.
Jim Chivers and Mitch Gold of Gold and Company assisted the sellers, Baltic Investment Company, LLC, with the marketing and sale of the real estate. It was purchased by a Maryland-based industrial company.
“We saw plenty of interest in this industrial property as there is still the heavy demand in the Baltimore area for industrial real estate. The credit worthiness of the current tenant made this property an attractive acquisition,” said Chivers.
Photo courtesy of Gold and Company
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Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
