ReadySpaces Expands With Second DC-Area Location in Landover

reprints


ReadySpaces, which provides flexible warehouse and office space for small businesses, has signed a 108,667-square-foot industrial lease at 3341 75th Avenue in Landover, Md.

The building’s owner is Terreno, according to tax records, having purchased it as part of a five-building portfolio in 2015 for $31 million.

SEE ALSO: Distress Looms Over U.S. Offices Heading Into Summer: Report

Built in 1985, the warehouse property will allow ReadySpaces to offer spaces of 200 to 5,000 square feet, at around $10.50 per square foot, according to the company. 

Founded in 2016, ReadySpaces helps entrepreneurs and small businesses scale their businesses. The company provides Wi-Fi, loading docks, forklifts, 120-volt power, conference rooms, kitchen space and lounge areas to businesses without the constraints of long-term contracts. Another company with a similar co-warehousing business model is Saltbox, which expanded to Alexandria last year.

This is the second ReadySpaces location in the Washington, D.C., region for ReadySpaces, having previously opened at 7701 Southern Drive in Springfield, Va., where it has 251,178 square feet. Overall, it has 33 locations throughout the U.S. and Canada.

Colliers (CIGI)’ Mike McGugan and Mike Davis represented ReadySpaces in the lease.

“With industrial vacancy rates at historic lows in Prince George’s County, small flexible industrial spaces are in high demand and short supply. The ReadySpaces business model will allow small business owners to grow and prosper at their own pace,” McGugan said in a prepared statement. 

Keith Loria can be reached at Kloria@commercialobserver.com.