BNI Properties Pays $10.25M for 105 Enterprise Lane in Hagerstown, MD
MCCB, LLC has sold 105 Enterprise Lane in Hagerstown, MD to BNI Properties of Washington, D.C. for $10.25 million. United Bank's Hagerstown branch provided the acquisition financing for the purchaser.
The transaction was brokered by Joe Friedman, Vice President and Director of Investment Sales, and Julian Etches, Director of Leasing and Sales at McShea’s Hagerstown office.
105 Enterprise Lane is a 193,400 square-foot new construction, bulk distribution facility with 30’ clear heights, 58 loading docks, 50’ x 50’ column spacing and ESFR sprinklering. The property sits on 30 acres and includes 40,000 SF of expansion FAR.
The property is immediately off of I-81 and Route 40 and 4 miles from the I-81/70 interchange. The property is 95 percent leased to four tenants.
Nicholas Papadopoulos, principal of BNI, recently sold 1718 Connecticut Avenue in Washington, D.C and is actively looking for new acquisitions in the Washington, D.C. Metropolitan region.
This is the third closing for McShea & Company’s investment sales division in 2012.