Formerly occupied by hhgregg, asset located near MD Route 5 and US Route 301
Lee & Associates | Maryland has been named the exclusive leasing broker for 14301 Mattawoman Drive, a 393,000 square foot warehouse and distribution facility in Prince George’s County, Maryland that was formerly occupied by electronics retailer hhgregg. Several years ago, the company filed for bankruptcy and subsequently closed nearly 90 stores across the country including 10 in Maryland. Allan Riorda, SIOR, President and Principal, Ned Brady, Principal and Tom Whelan, Principal of Lee & Associates | Maryland will be handling the assignment on behalf of the owner, Link Logistics Real Estate.
Located near the intersection of MD Route 5 and US 301 in Brandywine, the building was originally developed to function as a warehouse and distribution facility for national retailer Circuit City. The asset features 52 fully-equipped loading docks, a 12 x 16' ramped drive-in dock, 27 to 29-foot ceiling heights and parking spaces that can accommodate 154 cars and 66 trailers. It is contained on approximately 29 acres of land and is configured to support nearly 10,000 square feet of office space. The site also includes an area that could be engineered to hold additional parking.
14301 Mattawoman Drive features immediate access to Interstate 95 and MD Route 301 and is situated 20 miles from Washington, D.C., 50 miles from the Port of Baltimore and 120 miles from Richmond, Virginia. More than 14 million people, contained within 5.2 million households, live within a 100-mile radius of the site and more than 50% of the population of the United States can be reached within a one-day truck drive.
The current vacancy rate for warehouse/distribution space in the Prince George’s County submarket is 6.3%, according to Lee & Associates.
“There continues to be a near insatiable demand for this type of real estate product nationally, and large-scale, ready-to-occupy buildings positioned near major population centers are increasingly rare,” explained Allan Riorda of Lee & Associates | Maryland. “The rapid escalation of ecommerce is causing products to bypass traditional retail outlets, with logistics emanating from warehouse/distribution centers such as these to serve the requirements of consumers and businesses. The slowdown in speculative construction has also placed renewed pressure on end-users to secure existing facilities. Our team is already fielding inquiries on this strategically-located asset based on the scarcity of supply to meet current demand.”
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit https://www.lee-associates.com/offices/office/?id=1591.
