861 871 & 879 Commonwealth Ave 3 Properties Offered at $4,650,000 in Hagerstown, MD

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of a three-building defense manufacturing portfolio located in Hagerstown, MD. The portfolio totals 53,379 square feet across 7.01 acres of industrial-zoned land and is 93% leased to Electromet Corporation, a defense manufacturer with a 51-year local operating history. The remaining 7% is leased to Antietam Broadband, a full-service broadband provider with deep local roots. Across two NNN leases, Electromet has lease expirations of November 2028 and February 2029, while Antietam Broadband recently signed a 1-year lease extension with three 1-year options.
The manufacturing buildings range in size from 16,000 SF to 26,000 SF and were all built between 1960 and 2019 with heavy electrical service and reinforced floors. This size range fits the most active leasing segment within the market. With a limited supply of similarly-sized properties, these manufacturing buildings would appeal to manufacturers, service companies & contractors; which constitute the deepest tenant pool in Hagerstown. The newest building, 861 Commonwealth, was built in 2019 and is fully air conditioned.
The Hagerstown location offers a deep labor pool, growing local population and quick access to I-70 and I81 which provide regional connectivity to major Mid-Atlantic cities. Industrial properties under 200,000 SF in Washington County enjoy a low 4.4% vacancy rate and positive net absorption over the last 12 months equivalent to 1.5% of existing inventory.
Founded in 1974, Electromet Corporation is a precision manufacturer of custom enclosures used in mission-critical defense systems such as tactical ground vehicles, radar systems, and command-and-control platforms. Its products meet stringent military standards for strength, vibration resistance, and electromagnetic shielding, serving major defense programs and prime contractors including BAE Systems and General Dynamics.
This offering represents an opportunity to acquire a portfolio of well-maintained manufacturing and office assets leased to a defense-focused tenant with recession resistant
operations. Hagerstown is a healthy industrial market with low vacancy rates and positive absorption. The size ranges and convenient locations of the manufacturing buildings offer a future leasing advantage to a new owner.