Construction On $500M Prince George's County Industrial Project Slated To Begin In Q1
A major industrial project is slated to break ground soon in Prince George's County as e-commerce continues to drive new demand for warehouse space in the region.
A partnership of Manekin LLC and Turnbridge Equities announced Tuesday it plans to break ground early next year on a $500M project that will ultimately total more than 3M SF of industrial space across 13 buildings.
The team plans to begin site development in Q1 of next year, and it aims to begin vertical construction on the first buildings by early 2022, a spokesperson told Bisnow.
The project, branded as National Capital Business Park, is being built on a 280-acre portion of a 442-acre site at the Collington Business Center in Upper Marlboro, with the remaining acres being preserved as open space. It sits near the intersection of Crain Highway and Leeland Road, roughly 7 miles outside the Beltway.
The 13 industrial buildings are planned to include warehouse, manufacturing and cold storage uses ranging from 50K SF to 1M SF. Powers Brown Architecture and Bohler Engineering are working on the project, and NAI Michael is managing the leasing.
The project is expected to create between 4,000 and 5,000 jobs and generate $21M of tax revenue for Prince George's County, the team said. The project received rezoning approval from the county in July.
"The county recognized the need for tax revenue, so they really accepted the case that more revenue would be generated by an industrial park than a residential subdivision," Schnorf said on the webinar. "They recognized the need for jobs, so they heard that argument and moved quickly to get the rezoning through."
The National Capital Business Park is one of several industrial projects moving forward in the D.C. suburbs, as developers are looking to take advantage of a rise in demand from e-commerce companies. The D.C. Metro area industrial market experienced 818K SF of positive net absorption in the first half of this year, according to JLL.