Transwestern Brokers Disposition of 98,653 SF Warehouse to Industrial Property Trust Inc.
Transwestern today announces it represented PERSEUS Realty in the disposition of the former headquarters for The Kane Company’s Office Movers Inc. at 10100 Willowdale Road in Lanham, Maryland. An affiliate of Industrial Property Trust Inc. purchased the 98,653-square-foot trophy warehouse for $13.1 million. Transwestern’s Mid-Atlantic Capital Markets Group, led by Executive Managing Director Gerry Trainor and Senior Managing Director Mark Glagola, along with Senior Associate Jason Sullivan, led the transaction.
“When The Kane Company closed, it created a rare opportunity to buy a state-of-the-art warehouse close to Washington, D.C.” said Glagola. “The buyer interest and pricing show the strength of the market. Industrial Property Trust Inc. got a best-in-class building.”
The property is 7 miles east of Washington, D.C., at the intersection of Interstates 495 and 95 and Route 50, offering excellent access to the District. The property can accommodate both single-tenant and multitenant configurations and features a 38-foot clear ceiling height – making it the only warehouse with ceiling heights of 36 feet or greater available for lease in the Washington, D.C., and Baltimore metro areas.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. During the past 24 months, the group’s transactions have exceeded $1.8 billion in aggregate value. The team’s success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities. For more information, visit the Mid-Atlantic Capital Markets Group website or call Trainor at 202.775.7091.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.
