New Boston Fund Plunks Down $26.5M for Warehouse

HAGERSTOWN, MD-The warehouse/distribution property at 16500 Hunters Green Pkwy. has gotten a new owner with New Boston Fund’s recent acquisition of the 825,000-sf structure in a $26.5 million deal. The four-year-old building occupies a 70-acre parcel in Hunters Green Industrial Park that can be developed to accommodate as much as 400,000 sf. The property had been listed through Coldwell Banker Commercial NRT and Insignia/ESG, who worked together on the disposition.

The Washington County area property sits approximately 70 miles outside of Richmond, VA, and is equally accessible to Baltimore, Philadelphia and Washington, DC. “This distribution center represents a unique opportunity to acquire a state-of-the-art warehouse property in a strategic location at the intersection of interstates 70 and 81,” New Boston Fund senior vice president and director of acquisitions Jim Kelleher explains. “This corridor clearly has become a key passageway for product distribution along the East Coast, and the Hagerstown facility is situated at the heart of this distribution corridor.”