Defense Contractor Lands in Westminster
- Jul 21, 2015
CBRE has recently brokered the sale of another property in the Greater Baltimore area.
The firm’s Ketch Secor, first vice president, and Alan Grace, vice president, represented Conewago Properties in the disposition of the flex-use asset located at 1231 Independence Way in the city of Westminster.
Conewago Properties sold the Carroll County facility to Advanced Thermal Batteries, a defense contractor and subsidiary of French company ASB Group, for $3.8 million. The Carroll County Economic Development and the State of Maryland Department of Economic Development helped to expedite the approval process for the transaction by leveraging multiple programs, in addition to providing significant economic incentives to the buyer.
“ATB required a highly technical facility to manufacture batteries used for military and space applications. The 1231 Independence Way asset accommodates ATB’s technical needs and offers a great work environment for both manufacturing employees and administrative functions,” Alan Grace said in a prepared statement. “The property’s logistic capabilities for manufacturing and suburban location were of paramount importance to the buyer during the transaction process.”
ATB’s new facility is located on a six-acre site, close to the Carroll County airport. It offers a total of 40,000 square feet of space and onsite parking for 132 vehicles. The defense contractor purchased it as part of its expansion plan. It will relocate 30 employees to the new site, from its current location, at 107 Beaver Court, in Cockeysville.
Aerial image via Google Maps