MRP Industrial Breaks Ground on 220,800-Square-Foot Spec Project in Prince Georges County

Market Insight

Lance Schwarz, vice president at NAI Michael, talks about a new 220,800 SF industrial project, Collington Park, in Prince George’s County .

“The shortage of industrially-zoned development sites has left limited options for tenants seeking modern, Class A distribution centers in order to service the nearly 10 million people in the Baltimore-Washington MSA”

Check out the full CityBiz article here

NAI Michael sells 136,860± SF warehouse

Deals & Transactions

Exeter Property Group has purchased the 136,860± square foot warehouse facility located at 6300 Columbia Park Road in Cheverly, Maryland. This property is situated on 15.36± acres and is currently leased by Safeway Stores, Inc. David Michael, Lance Schwarz, and Peter Burleigh of NAI The Michael Companies, Inc. represented the seller, Spendthrift Associates, in the transaction.

The Bus Depot Deal Closes – WMATA Buys in ‘Andrews Federal’

Market Insight

WMATA now officially has a place to park its buses.

The transit agency, officially known as the Washington Metropolitan Area Transit Authority, paid approximately $13.8 million recently for 35 industrial acres in the Andrews Federal Campus, in Forestville, MD.

A replacement facility for its Southern Avenue garage, the planned build-out now includes fleet maintenance and operations. WMATA had put out an RFP late last year seeking qualified firms to manage the design/build, and is reportedly expected to make a final choice from among the responding firms.

The deal is land sale number two for Andrews developer Jackson Shaw, but leaves the company with enough land to build two spec warehouses for its own account. Jackson Shaw had sold 12 acres to the Architect of the Capitol early in the park’s evolution, land that that federal agency has largely left fallow so far.

WMATA will do the grading on the 35 acres it just bought, but it got a cleared, platted site with utilities to the edge of the property. The agency will pay the seller an additional fee for off-lot development, pushing its ground price into the neighborhood of just of $11 per foot. Lance Schwarz and David Michael of NAI Michael represented Jackson Shaw.

Courtesy of Prince George’s Newsletter. For more information or to subscribe, visit www.marylandnewsletters.com

Automotive Deal in Hyattsville

Deals & Transactions

4720 Baltimore Avenue has been an auto sales and service operation for some 40 years. That isn’t changing. Only the ownership is.

The Baltimore Avenue LLC has newly acquired, for $1.325 million, the one-and-a-quarter acre site in Hyattsville from which Standard Leasing & Auto Sales so long operated. The property, fully paved and fenced, includes a 13,000 square foot building from which the LLC will move cars. Jack Lassise, Mike Isen and Mike DiMeglio of NAI Michael brokered the deal.

Courtesy of Prince George’s Newsletter. For more information or to subscribe, visit www.marylandnewsletters.com

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