MacKenzie Commercial Real Estate Services, LLC is pleased to announce the sale of a five-building industrial complex totaling 156,811 square feet known as the Azar Industrial Complex in Glen Burnie, Anne Arundel County, Maryland. Situated at 100, 115, 126, 127, and 128 Roesler Road and with 24 tenants in place, the complex was 95% leased at the time of sale and was owned by the Azar Family Trust. Columbia, MD-based real estate development and investment firm Feldman Bergin Properties purchased the industrial complex in an off-the-market transaction for $9,565,000. MacKenzie Senior Vice President/Principal Daniel Hudak and Vice President Andrew Meeder represented the purchaser in the transaction and will provide leasing services on behalf of the new ownership.
“With opportunities to develop ground-up construction in Anne Arundel County being limited, and the complex’s favorable C4 zoning that allows for a diversified tenancy, Feldman Bergin Properties saw the Azar Industrial Complex as a value-add opportunity to their portfolio,” stated Meeder. “We look forward to working with them to bring the building to 100% occupancy.”
In addition to sales representation, MacKenzie Management Company, LLC was selected by Feldman Bergin Properties to provide property management services. Management services will include the day-to-day physical management of the property, detailed financial analysis, and customer service with the tenants. These responsibilities will be comprised of lease administration, budgeting, financial reporting, contracting and oversight of third-party service providers, and supervision and maintenance of the building systems. MacKenzie will provide first point of contact for all tenant-related concerns, enhancing landlord/tenant relations and ultimately strengthening the buildings’ long-term success.
“MacKenzie’s full-service platform continues to prove knowledgeable of market opportunities and they consistently provide trusted advisory services,” stated Bob Bergin, Principal. “We are excited about this purchase and look forward to our continued partnership with MacKenzie and getting to know the tenants at this location.”
For more information on MacKenzie’s full-service offerings, please visit www.mackenziecommercial.com.
MacKenzie Ventures, LLC (MacKenzie) possesses the multi-disciplined team necessary to excel in Maryland’s corporate real estate community. Comprising seven firms, MacKenzie provides clients a competitive, full service platform of offerings in leasing, sales, investment sales, tenant and landlord advisory services, corporate and business consulting, commercial development, general construction, property and asset management, multifamily property management, debt and equity capital placement, and GIS/Data Analytics. With more than 225 employees and offices in Annapolis, Baltimore, Bel Air, Columbia, and Lutherville, Maryland, MacKenzie is one of the largest full service commercial real estate firms in the Mid-Atlantic. Please visit www.mackenziecommercial.com for more information.
