XPO Logistics Signs 400K SF Warehouse Lease in DC Suburb
By Keith Loria June 10, 2021 3:24 pm
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XPO Logistics has signed a 400,000-square-foot lease at a vacant, single-story warehouse and distribution center in Brandywine, Md., Commercial Observer has learned.
Lee & Associates of Maryland represented the landlord, Link Logistics Real Estate, in the lease transaction. No details about the length of the lease or rent were disclosed.
XPO Logistics, a transportation and contract logistics company headquartered in Greenwich, Conn., that manages supply chains for more than 50,000 customers worldwide, is taking the entire facility, located at 14301 Mattawoman Drive. The building was formerly occupied by electronics retailer H.H. Gregg and has sat empty since 2017.
XPO will move into the building immediately.
“Our team fielded tremendous interest in this large-scale use and were able to successfully complete this leasing transaction in approximately four months,” Allan Riorda, president and a principal of Lee & Associates of Maryland, said in a prepared statement. “This lease removes a significant amount of square footage from the suburban Maryland inventory, and there continues to be a near insatiable demand for this type of real estate product nationally, especially those that are ready-to-occupy and positioned near major population centers.”
Commercial real estate located in bioscience clusters around the country continues to outperform the broader marketplace, but it’s been especially strong in Maryland.
Located near the intersection of MD Route 5 and US 301, the property is convenient to both Washington, D.C., and Baltimore.
The building was originally used as a warehouse and distribution facility for electronic retailer Circuit City. It boasts 52 fully equipped loading docks, a 12×16-foot ramped drive-in dock, 27- to 29-foot ceiling heights, and parking spaces that can accommodate 154 cars and 66 trailers.
The 29-acre site also includes an area that could be engineered to hold additional parking.
It also 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.
Joining Riorda on the deal were Lee & Associates of Maryland principals Ned Brady and Tom Whelan.
According to recent Lee & Associates of Maryland data, the current vacancy rate for warehouse/distribution space in the Prince George’s County submarket is 4.8 percent.
