Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Logistics Property Company Closes on First Development Site in DC
Logistics Property Company has closed on a 22.5-acre site in Beltsville, Maryland.
Located adjacent to MD-200 with immediate access to I-95, the site offers quick access to the Washington D.C. line, the Port of Baltimore, and Baltimore/Washington International Airport. “Our team is excited to be in the Washington D.C. and Baltimore market,” said Mark Glagola, Senior Vice President of Logistics Property Company’s Northeast Region.
Glagola and Paul Whitford, Development Manager, worked with the Newmark Mid-Atlantic Industrial Capital Markets team of Ben McCarty, Cris Abramson, Nick Signor and Henry Pleszkoch, who represented the seller. Once complete, Beltsville Logistics Center will be comprised of approximately 270,000 square feet across two buildings.
“Beltsville Logistics Center represents a rare, fully entitled development opportunity in an in-fill market that has not seen speculative development since 2007 due to the high barriers to entry and limited supply of available land,” said Ben McCarty, Managing Director at Newmark.
