$4.6 MILLION
8104 Lynhurst Road, Dundalk, MD | Baltimore County
Industrial Outdoor Storage Portfolio · Buyer Representation · Sold Off-Market
Recent Client Success
Winning an Off-Market IOS Portfolio Near the Port of Baltimore
Challenge
My client wanted income-producing outdoor storage near the Port of Baltimore and the Beltway, which is one of the hardest products in the region to buy. The right sites rarely come to market, and when they do, the competition is heavy.
8104 Lynhurst Road fit perfectly: two fully leased parcels totaling ±9.26 acres, zoned ML, right off I-695. The only issue was that it wasn't for sale. The first conversation with ownership happened in the fall of 2022, and there was no deadline or listing in sight.
Then in March 2024, the Key Bridge collapsed and closed the port's main shipping channel. For a buyer focused on a site minutes from the port, that raised a fair question: was this still the right asset?
Action
- We approached ownership directly and kept the conversation going for more than two years, without forcing it.
- We kept the client focused on fundamentals instead of headlines: location, zoning, in-place tenants, and how little comparable land exists in Baltimore County.
- We negotiated terms that worked for the seller and protected the client's long-term plans, including a right of first refusal on the parcel between the two sites he was buying.
Result
$4.6M
Sale Price — Sold Off-Market
±9.26 AC
Fully Leased IOS (±$497K/acre)
~2.5 Yrs
First Conversation to Closing
Closed in early spring 2025 at $4.6 million, about $497,000 per acre, for ±9.26 acres of fully leased outdoor storage with income from day one.
The right of first refusal paid off. My client later exercised it and acquired 8100 Lynhurst Road, the 2.27-acre parcel between his two sites, along with its 18,964 SF building. What started as two separate outdoor storage parcels is now one contiguous ±11.5-acre property with room to grow.
For my client, the win wasn't just the price. It was getting an asset that never hit the market, with income from day one, plus control of the parcel that made the whole site work.
Heading into the end of 2026, the forces behind this deal are still relevant: scarce zoned land, steady demand for truck and container storage, and a port that came back from a major disruption.
The lesson for buyers is that the best outdoor storage sites rarely trade on the open market. Instead, they're won through relationships built years before a deal, and through terms that go beyond the price.
