Warehouse and Five Acres Sell for $12.4 Million

CAPITAL HEIGHTS, MD-A 240,000-sf industrial warehouse with an additional five-acre parcel of land has been sold by TA Associate Realty for $12.4 million. CB Richard Ellis Investors LLC made the acquisition on behalf of an undisclosed investor.

“The General Services Administration is one of the larger tenants, with over 30,000 sf,” Kelly Cooper of Jones Lang LaSalle tells GlobeSt.com. Jones Lang LaSalle co-brokered the deal with KLNB on behalf of the seller. “The building has strong tenancy. It’s a multi-tenanted building with staggered expirations,” she says. The property sits in the middle of Prince George’s County’s Largo-Landover-Capital Heights submarket, just off the Capital Beltway.” With few remaining parcels available for development in the area, the vacant five-acre plot is quite a find. Industrial property is also very popular in the market. “There is a lot of capital looking to buy industrial product,” Cooper notes.