Two Prince George's County Industrial Properties Trade Hands
Two Prince George's County industrial properties totaling 402k SF have traded hands, with HFF brokering both sales.
The first is Lincoln 495 at 8420 Westphalia Road in Upper Marlboro. TH Real Estate, a division of TIAA Global Asset Management, sold the property to Hartz Mountain Industries for an undisclosed price.
The 154k SF building, above, was built in 2009 and is fully leased to three tenants.
The other property, Sunnyside Industrial Center, is at 5640, 5760 and 5700-5730 Sunnyside Ave in Beltsville. The Donohoe Cos bought the building from Velsor Properties for an undisclosed price.
The three-building warehouse facility totals 248k SF. It is 90.6% leased to 15 tenants. It sits directly off Route 1, one of Prince George's County's main corridors.
“Prince George's County industrial product has been very active this year, given its low vacancy rate and low price per square foot, especially as compared to Virginia industrial product,” HFF's Bruce Strasburg, the broker for both sales, said in a release. “The success of National Harbor, along with the growth of ‘last mile’ e-commerce, have made the industrial market inside the Beltway a sought-after investment.”
