$1.85 MILLION
8225-B Cloverleaf Drive, Millersville, MD | Anne Arundel County
Industrial Flex Condo · Sold Spring 2021
Recent Client Success
Practicing discipline to get max value for industrial condo near BWI
Challenge
In the spring of 2021, the Baltimore industrial market was heading toward its tightest point on record, and we could have instantly sold 8225-B Cloverleaf Drive at our asking price of $1,795,000.
We recognized how strong of an asset we had in our possession, and needed to have the discipline to position the property so qualified buyers competed for it, rather than accepting the first offer to come in at face value.
Action
The property itself was a corner unit with the best visibility, access, and position in the entire complex. It featured two drive-in doors, three docks, and a warehouse that was both air-conditioned and sprinklered. The building sat on 2.01 acres with 90 shared parking spaces, and was located minutes away from I-97 and the BWI airport.
We built the process for competition by positioning user-friendly infrastructure with prime location, and letting the market set the price.
Result
$1.85M
Sale Price
$55K
Over Asking (about 3%)
±13,050 SF
Corner-Unit Flex Space
When several qualified buyers are at the table, the seller sets the terms. Multiple offers came flooding in which caused an aggressive bidding war, and the property sold for $1,850,000. This figure was $55,000 over asking (about 3%), or roughly $142 per square foot.
Even in a hot market, you still need the discipline to recognize the value of the property you're holding and the patience to let it prove its worth.
A user-ready corner unit near BWI was never going to be an ordinary sale, and accepting the first reasonable offer would have left money on the table. We held our position until qualified buyers realized there was competition, and the value only went up from there.
