Marcus & Millichap Brokers $9.96M Sale of Baltimore Manufacturing Facility Leased to Dejana Truck

Marcus & Millichap has arranged the $9.96 million sale of a single-tenant manufacturing facility at 6901 Rolling Mill Road in Baltimore, Maryland, the firm announced Sept. 1, 2026. The transaction involved a Maryland-based private investment company as seller and a New York-based, institutionally backed investment fund as buyer.

Bryn Merrey, senior managing director investments in Marcus & Millichap's Washington, D.C., office, and John Faus of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the buyer.

Property Overview and Tenant Profile

The facility at 6901 Rolling Mill Road totals 75,000 square feet and sits on 6.44 acres of heavy industrial-zoned land. Built in 1967, the building comprises a 69,170-square-foot warehouse and 6,730 square feet of office space, with approximately two acres of outdoor storage. The property also features 110 parking spaces, six drive-in doors, four loading docks, and ceiling clear heights of up to 20 feet.

The asset is fully occupied by Dejana Truck & Utility Equipment, a division of Douglas Dynamics LLC, a publicly traded company. Dejana has operated at the site for 21 years, using the facility for manufacturing, fabrication, and ship-through operations for cargo and van body equipment. The Baltimore location serves as a ship-through point for several major OEM van platforms and functions as a manufacturing, fabrication, and training facility.

"The property is leased to a subsidiary of a publicly traded company that has operated at the site for more than two decades," Merrey said. "The property's specialized features and long operating history made it particularly well suited to the tenant's business. Those characteristics would be difficult to replicate elsewhere, providing the property with a meaningful long-term leasing advantage."

Transaction Pricing and Historical Context

The $9,960,000 sale price equates to approximately $133 per square foot. The property previously traded for $5.7 million — roughly $76 per square foot — when 1788 Holdings acquired it from Dejana Realty of Maryland, with Merrey also representing a party in that earlier transaction. The increase in per-square-foot pricing between the two trades reflects the asset's tenant stability, the broader appreciation in industrial real estate values, and shifting capital markets conditions over the intervening period.

Strategic Location in Baltimore's Industrial Corridor

The facility's location underpins its investment appeal. The property sits in close proximity to the Port of Baltimore, the CSX Intermodal Terminal, and Baltimore/Washington International Thurgood Marshall Airport, with direct access to Interstates 95 and 695. That combination of port, rail, air, and highway connectivity positions the asset within a multi-modal industrial logistics node on the East Coast.

Dejana's operations at the site — including OEM ship-through services for major van manufacturers — reflect the kind of embedded, specialized tenancy that investors have increasingly sought in single-tenant industrial assets, where long operating histories and purpose-built infrastructure reduce re-leasing risk.

Baltimore Industrial Market Context

The transaction comes as Baltimore's broader industrial market has faced rising vacancy. Market data for mid-2025 showed vacancy climbing to approximately 8.5 percent, a level described as among the highest in recent years, with the market recording negative net absorption in consecutive quarters. Against that backdrop, fully leased, single-tenant assets with long-tenured corporate occupants have continued to attract institutional capital, as buyers prioritize durable cash flows over speculative exposure.

Marcus & Millichap closed 8,818 transactions in 2025 with a total sales volume of approximately $50.9 billion. The firm operates more than 80 offices across the United States and Canada.

Sources

Marcus & Millichap Press Release: $9.96M Sale of 6901 Rolling Mill Road, Baltimore