Washco Management has sold a 70-acre industrial development site that is one of the last undeveloped parcels at the intersection of Interstates 81 and 70 in the highly sought-after I-81 Industrial Corridor in Hagerstown, Md., near the Pennsylvania and West Virginia borders.
Penzance purchased the fully entitled site. Additionally, JLL has been engaged to source construction financing and lease the property on behalf of the developer, who is planning to begin construction of an 825,000-square-foot, class A distribution building on the site this spring.
The development site is along Wright Road at the Intersection of Interstates 81 and 70 in Hagerstown, which is approximately 3.5 miles north of the Maryland-West Virginia border and 8.5 miles south of the Maryland-Pennsylvania borders. The property also is part of the I-81 Corridor Industrial market, which encompasses Berkeley County, W.Va.; Frederick and Winchester Counties in Virginia; and Washington County, Md. This is
