MoCo real estate firm acquires Frederick business park

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Minkoff Development Corp., a real estate firm headquartered in Germantown, has acquired Wedgewood North Business Park, a four-building industrial property in Frederick. 

The acquisition marks Minkoff’s first investment in Frederick County as the firm seeks to expand its portfolio of industrial and flex properties in the region, according to a June 17 release. Located at 4841 to 4855 International Boulevard, the 51,360-square-foot site spans 4.05 acres and sits within what is known as the Frederick Triangle, according to Minkoff.

The business did not immediately disclose the acquisition price.

The business park’s four single-story buildings are designed to accommodate various purposes and business uses, including manufacturing, warehouse, laboratory, office, and medical tenants. 

“Wedgewood North Business Park represents the type of investment we have pursued for decades, a well-built, functional industrial space in a location with strong long-term fundamentals,” Minkoff co-CEO Andy Chod said in a release.

“Frederick County continues to attract innovative companies and a highly skilled workforce, and this property’s existing tenant roster reflects that strength. As long-term owners, we are excited to establish a presence in Frederick and continue providing the responsive management and hands-on stewardship that have defined our company for more than 50 years.”

Three of the four buildings at Wedgewood North Business Park are fully leased, and one 12,237-square-foot building is available for occupancy, a Minkoff release says.

Built in 2008, the property houses a diverse tenant roster that spans life sciences, engineering, technology and business services.