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HAGERSTOWN, MD-The 824,300-sf distribution facility that was once home to hardware co-op TruServ Corp.’s True Value Distribution Center has hit the market with no price tag attached. The Chicago-headquartered company, which had a lease-and-buy agreement on the property, has chosen Insignia/ESG to market the facility. The property has a 2001 assessed value of approximately $37.8 million.

The three-year-old, state-of-the-art structure sits on a 70.25-acre plot at 16500 Hunters Green Parkway in the Hopewell Valley area of Washington County. Located within the Hunter’s Green Business Center, the industrial building is a single-story property and offers 5,000-sf of office space, 13,000 sf of shipping and operations space, as well as outdoor parking areas to accommodate more than 300 cars. TruServ announced in December that it would be shutting down the location it has operated in for barely three years. The closing is a gradual one and the facility should be empty by November. State and local government offices had offered the company millions in grants to locate the facility in Hagerstown. Much of the money, such as the $1.5 million community development block grant from the government, will have to be returned.

As TruServ works its way out of the property, Insignia is working on re-tenanting the facility. “This is a once in a lifetime opportunity,” Insignia/Miller’s executive vice president David Baird says in a statement. Baltimore’s Insignia/Miller, and Philadelphia’s Insignia/ESG and Insignia/ESG US Industrial Group make up the marketing team. “This outstanding distribution facility, located at the intersection of I-70 and I-80, is in the heart of the I-81 corridor, one of the ‘hottest’ distribution locations in the country,” Baird continues. “It is ideally suited to serve northeast and mid-Atlantic markets.”

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