Upper Marlboro, MD — Cabot Properties, Inc., an international private equity real estate investment fund, together with development partner MRP Industrial, a commercial real estate and investment company, have broken ground on a new speculative 86,840 s/f warehouse/industrial building in the Upper Marlboro section of Prince George’s County. The site is contained on an seven-acre parcel within the Collington Park business community, with delivery expected to occur in fall 2021. Late last year, Cabot Properties acquired the development site from MRP Industrial for an undisclosed price.
Fronting Queen’s Court and directly off MD Route 301, the single-story concrete tilt-wall building features 32-foot clear ceiling heights, 23 dock and two drive-in doors, LED lighting, a 120-foot truck court to support the movement of large tractor trailers and segregated parking fields for employee and visitor parking for nearly 100 vehicles. The large, open space floorplate is suitable for a range of light manufacturing, warehouse, logistics and last-mile operations and can accommodate both a single and multi-tenant use.
“We have tremendous confidence in our ability to quickly bring this speculative building to 100% occupancy based on the velocity of user demand that continues for this real estate product type both nationally and locally,” said Carey Herrlinger, director, Investments of Cabot Properties. “The Prince George’s County region, in particular, is benefited by its strategic location embedded within the Combined Statistical Area of the Washington, DC-Baltimore area that contains 10 million people. With direct access to MD Rte. 301, a major north/south highway servicing the as far north as Delaware and extending into Richmond, Virginia, end-users will be able to reach a majority of the MSA’s population under a one-hour drive. A strategic position 10 minutes from Interstate 495 provides immediate connections throughout the greater DC marketplace.”
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