X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

FREDERICK, MD-Building Exchange Corp. and 200 Monroe LLC acquired the 189,000-sf warehouse and distribution building at 200 Monroe Ave. for nearly $7.4 million. The seller was Custom Printing Co. The unoccupied facility was formerly home to St. Louis-headquartered textbook printing and graphics concern Von Hoffman Corp., which vacated the property with the closing of its local operations in January.

Gersten Commercial Real Estate’s Richard Gersten represented the seller in the transaction, while Transwestern Commercial Services’ Bob Filley stood in for the buyer. Developed in 1970, 200 Monroe St. occupies a 10-acre parcel near I-70 and I-270, close to the currently expanding Frederick Regional Airport.

According to Gersten, there was a significant amount of competition for the site among hopeful investors. “The property sold vacant for a high price because area tenants have expressed interest in parts of the property for relocation or expansion,” Gersten notes. As per Frederick County records, the property has a current assessed value of just under $5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.