Atapco Strengthens Presence in the Mid-Atlantic
- Sep 04, 2015
By Adrian Maties, Associate Editor
At the start of September, Atapco Properties Inc. announced the acquisition of a Class B+ distribution warehouse in Beltsville, in northern Prince George’s County.
Atapco did not reveal how much it paid for the property located at 11700 Trolley Lane, but the company did reveal that the transaction was structured as a sale/leaseback. PropertyShark reports show that Rolling Frito-Lay Sales LP was the former owner, and the distribution warehouse is currently valued at $5.3 million.
“The purchase of this industrial asset further strengthens Atapco’s presence in top-tier industrial markets such as the Baltimore-Washington Corridor,” Brian Conklin, director of acquisitions for Atapco, said in a statement. “The property can be expanded to twice its current size and/or be utilized by tenants with significant outdoor storage or truck parking needs. It would perfectly suit a prospective tenant looking for first-class industrial space in a readily accessible location.”
Atapco’s new distribution warehouse was constructed on a 12.83-acre site within the 169-acre Ammendale Business Campus Sout—within close proximity to Ft. Meade, Washington D.C and the BWI Airport and with immediate access to I-95, I-495, Route 1 and the Intercounty Connector. The property offers 52,000 square feet of space and, according to the new owner, it was fully leased on a short term basis at the time of the sale.