19,973 SF Last-Mile Warehouse Disposition Brokered by Transwestern
June 17, 2020
Transwestern Real Estate Services (TRS) announces it has brokered the sale of Steeplechase Building H at 9300 Alaking Court in Washington, D.C. The 19,973-square-foot, last-mile warehouse is located within the Steeplechase 95 International Business Park, the premier industrial business park in the D.C. region. Transwestern Senior Managing Director Mark Glagola, Executive Vice President Gerry Trainor and Director Thomas Hilley represented the seller, Atapco Properties, in the transaction.
“This is a trophy sorting center at a very strategic location,” said Glagola. “The tenancy and building design made this a very unique opportunity and a great example of the future product of e-commerce.”
The building is 100% leased long-term to a high-credit tenant. Steeplechase 95 International Business Park is a 110-acre, mixed-use business park and retail center in Capitol Heights, Maryland, at Exit 13 off the Capital Beltway. The park is comprised of 1 million square feet of industrial space and quality mix of neighborhood retail. It has unparalleled access to Interstates 95 and 495 and superior visibility from both Ritchie Marlboro Road and the Capital Beltway.
“This project showcases Atapco’s ability to serve tenant needs in an evolving logistics environment,” said Armin Groeschel, Vice President of Development for Atapco. “We continuously strive to provide long-term value for our investors.”
The Steeplechase 95 park has attracted some of the country’s most sought-after tenants, including Restaurant Depot, Johnson Controls, HD Supply, the federal government, Rexel, Dewalt and Service Source.
"We were fortunate to be in a position to be able to close at a time when most other deals were falling through. Working with such an experienced broker team was key in making sure it got done,” said Brandon Jenkins, COO of buyer Fundrise. “Ultimately, we are believers in the long-term growth potential of well-located, last-mile type assets and this property is a great example of that.”
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.