FRP Development Corp has closed on the purchase of an industrial and warehouse building situated in the Hunt Valley section of Baltimore County. The single-story, 115,000 sqf building at 10820 Gilroy Road sold for $8.33 million. Built in 1967, the entire building is leased to Webb Mason and a division of McCormick & Company. The facility features 24 foot ceilings, 17 loading docks and one drive-in loading dock. Peter Dudley, principal for NAI KLNB represented both the buyer, and the seller, Webb Mason Commercial, in this transaction.
“FRP Development remains in an active acquisition stance as we strive to increase our platform in markets that make economic and real estate sense,” stated David H. deVilliers, Jr., President of FRP. “We are impressed with the Hunt Valley market, which we believe to be extremely stable and growing, especially with McCormick’s decision to re-locate its headquarters to this location. Our focus is to identify and secure sound real estate holdings in the Baltimore-Washington marketplace, and will continue to seek acquisition opportunities that satisfy our criteria.”
