JULY 2013, CAMBRIDGE, MD – The former Cambridge RV sold in an online auction held May 30 to Aireys Spur Road, LLC for $700,000. Appraised at $1,875,000 in January of this year, the new owner plans to lease the building and is actively considering offers from prospective tenants.
Henry Hanna, CCIM, SIOR, one of two commercial realtors at Sperry Van Ness – Miller Commercial Real Estate who represented Cambridge RV’s former owner and is now working with Aireys Spur, said the online auction was the second such event SVN has participated in and a growing trend in the commercial market, “Online auctions give national exposure to local properties and are an effective means to market valuable properties to prospective investors.”
The new owners have already made improvements, power washing the building and starting to landscape the property’s 5.3 acres. Two companies who registered for the auction are now in discussion with SVN-Miller about possibly leasing the property. Hanna hopes to have a contract in 90 days and is still accepting prospective lease inquiries.
Hanna sees the sale of the Aireys Spur Road property as part of a continued trend of increased commercial industrial activity in Dorchester county and on the Shore. “While most commercial property buyers have a specific use in mind, this property was unusual in that the buyer – a knowledgeable Shore businessman – was more interested in the long term investment a highly visible and valuable parcel offered.”
For more information about leasing this property or about other available properties on the Eastern Shore of Maryland and Delaware, contact Henry Hanna at email@example.com or 410-543-2440.
SVN-MILLER COMMERCIAL REAL ESTATE
SVN - Miller Commercial Real Estate, with offices in Salisbury, MD, Easton, MD, and Seaford, DE is a financial services firm specializing in commercial real estate. We provide advisory, brokerage, consultation, leasing and asset and property management services to clients in the Mid-Atlantic Region. We combine a comprehensive national footprint with local decision making, expertise and market-leading execution. We maintain an unequivocal commitment to our clients and community (#SVNgivesback).
SVN - Miller is an Accredited Management Organization® (AMO). Our team of dedicated professionals with market-leading knowledge includes a highly-trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).