Hyatt Commercial Closes $22.5M Industrial Land Sale in Gambrills, MD
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.”
About Hyatt Commercial
Hyatt Commercial, headquartered in Annapolis, Maryland, is a leader in the industry representing local, regional, and national clients in the area. With over 61 years of experience, Hyatt Commercial offers comprehensive real estate services through its subsidiary companies, including property management, commercial construction, brokerage, and land development management residential services. Committed to excellence and driven by a passion for real estate, Hyatt Commercial continues to be a trusted partner in shaping the region’s real estate landscape. Visit hyattcommercial.com for more information and join us on Facebook, Instagram, X, or LinkedIn.
Hyatt Commercial
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Gabrielle Titow Marketing
- May 08, 2025
- (410) 266-8800
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