Marcus Partners Buys DC-Area Industrial Complex for $18M
Marcus Partners, a Boston-based real estate investment and development firm, has acquired D’Arcy Industrial Center in District Heights, Md., for $18.3 million.
Located at 8701 D’Arcy Road, the two small-bay industrial buildings total 182,000 square feet.
The seller was not disclosed, but public records list the former owner as D’Arcy Road Partnership.
“D’Arcy Industrial Center represents a great infill property close to Washington D.C., with desirable property features, heavy industrial zoning and outdoor yard storage,” Andrew Dolinsky, principal and Washington D.C. regional director at Marcus Partners, told Commercial Observer. “The properties fit well within our overall investment strategy of acquiring and developing Class A and B industrial properties in high-demand areas with supply constraints along the East Coast.”
The two buildings are 100-percent leased with near-term rollover, with a tenant roster that includes Veterans Storage.
According to Dolinsky, Marcus Partners plans to invest meaningful capital to enhance the buildings and overall property operations.
The D’Arcy Industrial Center is situated adjacent to the Capital Beltway, providing easy access to Washington, D.C., Northern Virginia and Maryland.
In June, Marcus Partners acquired two industrial buildings in Beltsville, Md., as part of its strategy to expand its industrial portfolio in the region.
“D’Arcy Industrial Center presents an opportunity to capture positive market momentum by institutionalizing an infill industrial product with desirable attributes,” Dolinsky said. “This acquisition serves to continue our long history of targeting value-add investments and furthers our growth in the Washington, D.C., metropolitan area.”
CBRE’s Bo Cashman and Jonathan Beard represented the buyer in the transaction. The firm’s Michael Elardo, Jared Ross and Kevin O’Neil will lead leasing efforts at the property.
Keith Loria can be reached at Kloria@commercialobserver.com.