100% LEASED, TRIPLE NET INVESTMENT OPPORTUNITY :: OFFERING MEMORANDUM
Brokerage Services | Investment Properties
Westminster Air Business Center
1110 Business Parkway South |
Westminster, MD 21157
KETCH SECOR
First Vice President
+1 410 244 3118
ketch.secor@cbre.com
RYAN ENGLES
Associate
+1 410 244 3186
ryan.engles@cbre.com
THE OFFERING
CBRE, Inc. is the exclusive marketing broker for the offering of this 100% leased, triple net investment opportunity
of 39,142 square foot industrial/manufacturing facility located in the Westminster Air Business Center, Westminster, Carroll County, Maryland. The 2.866 acre site allows for expansion capability of the building, but no engineering studies have been performed.
The property is located in a mature business park dominated by industrial users. 1110 Business Parkway South
serves as the regional headquarters for LAI International East, who has occupied the property since its development in 1985. They have invested heavily in the building with electric, equipment and other company specific
infrastructure. LAI has six (6) locations. In 2013, LAI negotiated a ten (10) year lease extension to their remaining
three (3) years, which takes their lease through June 30, 2026, and the Landlord invested $305,472 into a new
parking lot and interior improvements.
The Landlord is responsible for maintaining, repairing and replacing the foundation, structural elements, exterior
walls, roofs and roof membranes. Whereas, Tenant is responsible for maintaining interior of Premises, including
all fixtures, interior walls, doors, windows and Building Systems serving the Premises, as well as sidewalks and
parking areas. Tenant has one (1) five (5) year renewal option at the then current fair market terms by providing
180 days written notice. Prime Lease, three (3) amendments, rent schedule and potential rental analysis available
upon request and receipt of signed confidentiality agreement.
PROPERTY SUMMARY
ADDRESS:
Westminster Air Business Park
1110 Business Parkway South
Westminster, MD 21157
BUILDING SIZE:
39,142 SF
CAR PARKING:
40 free surface spaces
LAND AREA:
2.866 Acres
OFFICE FINISH:
Approximately 4,500 ± SF
OCCUPANCY:
100%
ROOF:
Architectural standing seam
metal roof
YEAR BUILT:
1985
CONSTRUCTION:
Masonry & Metal
ZONING:
IR, County
SPRINKLER SYSTEM:
Wet sprinkler system
CLEAR HEIGHT:
18’ clear
CONNECTIVITY
Fiber optic ring providing hispeed internet sevice by Ting
SITE PLAN
FLOOR PLAN
AERIAL
N.A. HEADQUARTERS
•
Knorr Brake Company
•
ATB Thermal Batteries
•
FR Conversions
•
Carlisle Etcetera
•
Strouse Corporation
MARKET OVERVIEW
The Property is located in Westminster, Maryland within Carroll
CARROLL COUNTY, MARYLAND
HIGHLIGHTS
County. The county is located along the Pennsylvania line,
MARKET LOCATION
bordered by Baltimore and Frederick counties. An effective
system of local routes connects residential, industrial, and
•
agricultural areas, as well as extending further to provide easy
access to Interstates 95, 70, 83, and 695. Carroll County
• Part of the nation’s fourth largest consumer
market, supporting over 7.2 million people,
2.6 million households and producing a
collective personal income of $215 billion
benefits from an educated workforce due to its position as a
• Access to one of the most comprehensive
and reliable transportation networks in the
country-highways, ports and rail
bedroom community for the City of Baltimore. Approximately
38% of the labor pool is tied to construction, manufacturing,
transportation, health, and business services sectors.
• Overnight access to over 70 million people
Carroll County and Westminster specifically, has experienced robust industrial activity over the past two (2) years, as follows:
•
trial facility
•
FR Conversions purchased a 151,000 SF industrial facility as
their headquarters
•
Advanced Thermal Batteries (ATB) purchased a 40,000 SF
manufacturing facility as their regional headquarters
•
GENERAL INFORMATION
Knorr Brake developed a 300,000 SF state of the art indus-
Carlisle Etcetera purchased an 84,000 SF facility for their
•
County Seat: Westminster
Land Area: 452 square miles
Elevation: 300 to 1,000 feet above sea level
Government: Five commissioners elected by
district for four-year terms
KEY DISTANCES
clothing manufacturing and distribution business
•
Elite Screens purchased an 86,000 SF manufacturing building in the same park for their east coast headquarters.
•
Fuchs North America recently purchased 20 acres to develop
a 200,000 SF manufacturing facility as their headquarters
Carroll County labor, cost to do business (i.e., operating expenses) and quality of life are driving factors luring business to the
area.
I-70 (Baltimore National Pike)
8 miles
I-695 (Baltimore Beltway)
12 miles
I-83 (Baltimore-Harrisburg Expy)
25 miles
I-95
25 miles
Port of Baltimore
30 miles
Baltimore, MD
35 miles
Washington, D.C.
50 miles
Philadelphia, PA
130 miles
For labor and additional area information,
please visit www.carrollbiz.org.
Brokerage Services
TENANT PROFILE
Investment Properties
of their business with a vision to provide superior service and deliver outstanding quality in the company’s tradition
LAI International is a leading contract manufacturer of precision-engineered finished parts,
components and sub-assemblies for advanced industries, including aerospace, defense,
energy, industrial and medical. Their customers are the who’s who of each industry sector
they serve. LAI International grew from its roots as a regional contract manufacturer to its status today as an international leader in the development of advanced manufacturing technologies. They have led the success and growth
of innovation. Through innovative ideas, best-in-class people, optimized processes and leading-edge technology
LAI International has re-defined the traditional manufacturing and supply-chain model. LAI’s core manufacturing
capabilities are comprised of several complementary advanced machining processes. LAI incorporates the advanced
technologies in integrated manufacturing cells across all of its nationwide facilities with more than 225,000 square
feet of manufacturing space. More information is available at www.laico.com.
RENT SCHEDULE AVAILABLE UPON RECEIPT OF SIGNED CONFIDENTIALITY AGREEMENT, ATTACHED HERETO.
For more information or to schedule a tour, please contact:
KETCH SECOR
First Vice President
+1 410 244 3118 - office
+1 410 409 0990 - mobile
ketch.secor@cbre.com
RYAN ENGLES
Associate
+1 410 244 3186 - office
+1 410 404 8853 - mobile
ryan.engles@cbre.com
CBRE, Inc. | 100 E. Pratt St. | 17th Floor| Baltimore, MD 21202 | www.cbre.com/baltimore | +1 410 244 7100
© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its
accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its
accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future
performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and
legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability
of the property for your needs.