GAMBRILLS, MD – May 7, 2025 –Hyatt Commercial has completed the sale of a 27-acre industrial site located at 749 MD Route 3 North, Gambrills, MD, on behalf of Baldwin Investors. The property was acquired by CRP/THC MD3 Industrial Owner, L.L.C.—a partnership affiliated with Hanover Industrial—for $22,500,000.00.
The site is approved for the development of approximately 450,000 square feet of industrial space and sits at a signalized intersection along MD Route 3, offering high visibility and easy access to major regional corridors.
The transaction closed upon site plan approval, setting the stage for one of the largest industrial developments in the region.
William Steffey, CRE, CCIM, and Justin Mullen of Hyatt Commercial represented the seller. Dave Dannenfelser and Tyler Boykin of Cushman & Wakefield represented the buyer.
“This transaction highlights the continued strength of the industrial market in Central Maryland,” said Steffey. “With demand for well-located, entitled land at a premium, this site offered a rare combination of scale, access, and timing.”
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