Atapco Buys Suburban Maryland Warehouse for $10M
- Aug 21, 2020
Atapco Properties has acquired a 186,829-square-foot industrial asset in Prince George’s County, Md., as part of a short-term, partial sale-leaseback transaction from a local private investor. Public records show the property traded for $10 million, and Old Dominion National Bank provided the new owner with a $7.5 million loan.
Located at 2300 Craftsman Circle in Hyattsville, the property is part of Kenilworth Interchange Industrial Park, 1 mile from the intersection of Baltimore-Washington Parkway and U.S. Route 50. The facility is some 10 miles from downtown Washington, D.C. Situated on a 13.9-acre site, the building has 11 loading docks, 12 drive-in doors, 235 parking spots and clear heights ranging from 16 to 28 feet, as well as some 32,000 square feet of office space on the first floor and 11,790 square feet on the second.
In May last year, Atapco Properties partnered with Chesapeake Real Estate Group to develop a 750,000-square-foot industrial project near Baltimore. The logistics center’s site, adjacent to Interstate 95, was previously zoned for a 100-store outlet mall.