Baltimore Co. Warehouse Changes Hands With $7M Sale

ROSEDALE, MD — An industrial warehouse space in Baltimore County was recently acquired by a Philadelphia-based investment and management firm in a multimillion-dollar deal.

Located at 9729 Philadelphia Road, the 22,500 square foot space sold for $7 million to the Alterra Property Group, according to MacKenzie Commercial Real Estate Services.

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The property, which sits on just over 9 acres of land, is entirely leased and occupied by Durham School Services, which partners with school districts to provide transportation for students.

"Alterra Property Group was the ideal buyer of 9729 Philadelphia Road, and, with this purchase, continues to build a sizeable portfolio of IOS assets in the greater Baltimore and central Maryland area," Andrew Meeder, principal and senior vice president for the MacKenzie firm, said in a statement.

"Single-tenanted buildings, especially those with IOS land, remain extremely high in demand in the local market, and the new owner acted decisively to acquire this institutional-quality and well-maintained asset."

"The presence of a long-term and stable tenant added to the building's marketability, and should provide runway to produce long-term value," he added.

The sale marked Alterra Property Group's seventh asset bought in the greater Baltimore Metro area. The property's previous owner was not disclosed, although MacKenzie described them as an investor.