500 Hanover Pike, Hampstead, MD 21074
- Manufacturing properties
- 210,288 SF
- 38.44 lot acres
Current Use by Public Records
- Jos. A. Bank Distribution Center / Warehouse & Storage
Property Details for 500 Hanover Pike
- Year built
- 1970
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 38.44 lot acres
- Zone code
- RESTR
- Property type
- Manufacturing properties
- APN
- 08-040257
- APU
- 8040257
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 17, 2021 | — | The Joseph A Bank Mfg Co INC | — | Deed · related | $102.5M · Wilmington Savings Fund Society Fsb |
| Mar 10, 2021 | — | The Joseph A Bank Mfg Co INC | — | Deed · related | $365M · Wilmington Savings Fund Society Fsb |
| Jan 17, 2019 | — | County Commissioner Of Carroll | Joseph A Bank Mfg Co INC | Grant Deed | — |
| Sep 29, 2010 | — | Joseph A Bank Mfg Co INC | Joseph A Bank Mfg Co INC | Quit Claim Deed | — |
| — | — | Joseph A Bank Mfg Co INC | — | Deed Of Trust · related | $8.4M · Jp Morgan Chase Bk |
| — | — | Joseph A Bank Mfg Co INC | — | Loan Modification · related | $400M · Jp Morgan Chase Bk |
Description
Exceptional investment opportunity: A 210,000-square-foot distribution center in Hampstead, Maryland, is available for sale. This fee-simple property boasts a 15-year absolute NNN lease with Tailored Brands Inc., a corporate guarantee, and 2% annual rent bumps. The property features 6 loading docks, 26-foot ceilings, and ample parking (200 spaces) on a 38.4-acre lot. Built in 1970, the building is zoned for light manufacturing and currently enjoys 100% occupancy. The asking price is $14,175,000, representing a price per square foot of $67.50 and an 8.15% cap rate, with a net operating income (NOI) of $1,155,000. The lease includes four, five-year options, ensuring long-term, passive income. This mission-critical facility serves as a regional distribution center for Tailored Brands Inc., a major retailer of men's clothing, providing significant stability and scale. Its strategic location offers excellent access to Interstate 795 via Maryland Route 30. This sale-leaseback transaction presents a compelling opportunity for investors seeking secure, long-term returns.
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Location Insight
- Map
- Local Demand
- City
- Hampstead
- County
- Carroll
- State
- Maryland
- Longitude
- -76.8463
- Latitude
- 39.5878
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
