Project located off Hanover Pike will be available in summer 2020

Lee & Associates | Maryland has been named the exclusive leasing and sales broker for 630 Hanover Pike, a warehouse/industrial building comprising more than one million square feet of space located directly off MD Route 30 (Hanover Pike) in the Hampstead section of Carroll County, Maryland. Dart Container Corporation recently announced plans to vacate the structure by summer 2020. Allan Riorda,SIOR, Ned Brady and Alex Shearer of Lee & Associates | Maryland will be handling the assignment on behalf of the full-service brokerage firm, with assistance from John Van Buskirk, SIOR of Lee & Associates of Eastern Pennsylvania.

Contained on approximately 51 acres of land, the building features 32 foot clear ceiling heights, 85 dock doors and two ramped drive-in doors that makes it suitable for a wide range of logistics, warehouse and manufacturing operations. It is positioned approximately 35 miles from Baltimore-Washington International Airport; 40 miles from the Port of Baltimore; 60 miles from Washington, D.C.; 65 miles from Harrisburg, Pennsylvania; 85 miles from Wilmington, Delaware and 125 miles from Philadelphia. The building was originally constructed around the year 2000 to function as a distribution warehouse for Sweetheart Cup, which later became Solo Cup.

“Continuing a trend that began more than a decade ago, the central Maryland region is among the most sought-after locations in the country for warehouse and industrial users with vacancy rates hovering around 7%,” explained Allan Riorda, SIOR, President/Principal, Lee & Associates | Maryland. “With the scarcity of properly zoned and suitable land for development, we expect end-users to migrate to high quality buildings such as these as the market continues to tighten.”

“Additional features of the Carroll County market is its proximity to major ports in Baltimore, Wilmington and Philadelphia and its location within a one-day truck drive to approximately one-third of all consumers living in the United States. The area also provides a steady labor force. Available at rental rates significantly below new product that will be delivered late this year and in 2020, we believe this asset will attract the interest of multiple end-users and buyers that are currently surveying the local area.”

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit https://www.lee-associates.com/offices/office/?id=1591