Industrial Property for Sale in Hagerstown, MD

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Hagerstown, MD 21740
  • Year built: 1985

Description

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of a five-building defense manufacturing portfolio located in Hagerstown, Maryland and Johnstown, Pennsylvania. The portfolio totals 97,379 square feet across 13.18 acres of industrial-zoned land and is 96% leased to Electromet Corporation, a defense manufacturer with a 51-year local operating history. The remaining 4% is leased to Antietam Broadband, a full-service broadband provider with deep local roots. Electromet has a weighted average lease term of 3.11 years across four NNN leases, while Antietam Broadband recently signed a 1-year lease extension with three 1-year options. The properties are offered as a portfolio but can be purchased separately. The manufacturing buildings have range in size from 16,000 SF to 28,000 SF and were all built between 1985 and 2019, with heavy electrical service and reinforced floors. This size range fits the most active leasing segment within the market. With a limited supply of similarly-sized properties, these manufacturing buildings would appeal to manufacturers, service companies & contractors; which constitute the deepest tenant pool in both cities. The newest building, 861 Commonwealth was built in 2019 and is fully air conditioned. The four Hagerstown buildings offer a deep labor pool, growing local population and quick access to I-70 and I-81 which provide regional connectivity to major Mid-Atlantic cities. Industrial properties under 200,000 SF in Washington County enjoy a low 4.4% vacancy rate and positive net absorption over the last 12 months equivalent to 1.5% of existing inventory. The property in Johnstown sits in an established industrial park, with neighbors such as Lockheed Martin, the American Red Cross, and Pepsi. Frito-Lay is building a new distribution center within walking distance of the property. Johnstown enjoys an exceptionally low 3.9% vacancy rate for industrial buildings under 200,000 SF. Southwestern PA has seen consis

Market Context

This industrial in Hagerstown, MD is listed for sale. It is offered at an approximate 7.7% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1985. It has been on the market for 53 days. Compare it against other industrial listings for sale in Hagerstown, MD — <a href="/search/sale/industrial/maryland/hagerstown">view the full market</a>.

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