Marcus & Millichap Brokers $7.45M Sale of Frederick IOS Asset Near Data Center Development

FREDERICK, MD – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 4305 Lime Kiln Road, an industrial outdoor storage property in Frederick, Maryland. The asset sold for $7,450,000.

“Over the course of a 45-day marketing period, we generated eight offers for the property, demonstrating continued strong demand for well-located and properly zoned outdoor storage sites,” said Bryn Merrey, senior managing director, investments in Marcus & Millichap’s Washington D.C. office. “In the end, the property sold to an out-of-area investor. Between the nearby data-center campus being developed and a scarcity of properly zoned outdoor storage sites, there is strong upward pressure on rents, making this a compelling investment opportunity.”

Merrey and John Faus of Marcus & Millichap exclusively marketed the property on behalf of the seller, 4305 LK Holdings, LP, and procured the buyer, Hampton Yard 17, LLC.

The property comprises approximately 8.31 acres, including about seven acres of usable outdoor storage space and 14,710 square feet of service buildings. It is fully leased on an absolute triple-net basis to Rowan Green Data, LLC, which does business as Rowan Digital Infrastructure, a developer of hyperscale data centers, and functions as a staging and support site for nearby data center development activity.

The asset is located within a General Industrial (GI) zoning district, where investor-owned outdoor storage sites are scarce and fully occupied. It provides access to Interstates 270 and 70 and is near the Quantum Frederick data center campus, which continues to drive demand for industrial support uses in the region.