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BNI Properties Pays $10.3M for Bulk Warehouse

Hagerstown Industrial Bldg. Changes Hands
September 4, 2012
BNI Properties, a Washington, DC-based development firm, acquired a distribution warehouse in Hagerstown, MD, from McCleary & Earley Inc. for $10.25 million, or about $53 per square foot.

The industrial building at 105 Enterprise Lane delivered in 2006 and was renovated last year. It is located immediately off of Interstate 81 and Route 40 and 4 miles from the I-81/70 interchange. The property was built to specialize in the disposition of suburban office, industrial and retail assets in the Washington/Baltimore metropolitan region. It totals 193,400 square feet on 30 acres. The property is 95 percent leased to four credit worthy tenants.

Joe Friedman and Julian Etches of McShea & Co. Inc. represented the seller.

Please see CoStar COMPS #2533967 for more information on this transaction.

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