Marcus Partners Acquires 121 K Muirkirk Business Center In Maryland

Marcus Partners, a Boston-based, real estate investment and development firm, has acquired Muirkirk Business Center, a 121,206 Sq Ft., two-building industrial complex in Beltsville, Md.

The purchase represents the company’s 15th industrial purchase and its first in the Washington-Baltimore market.

The seller, Bristol Capital Corp., acquired the property for $9.85 million in 2015.

The price is yet not announced as the deal came out, thanks to the $360 million investment fund that Marcus Partners gathered earlier this year to target both existing and development investments within industrial and multifamily development.

Located at 6850 Distribution Drive and 12201 Distribution Way, the buildings are in minutes to I-95, I-495, Route 1, and the Intercounty Connector.

The property, which sits on 6.6 acres, features a 165-foot shared truck court, 21- to 23-foot clear heights, one loading dock per every 5,500 square feet, one drive-in per every 6,400 square feet, and outside storage.

Industrial properties in the area are currently being very competitively examine, with purchasers paying prices equivalent to 4% cap rates and below. 

NAI MichaelLance Schwarz and Peter Burleigh represented the buyer in the sale and will continue letting efforts at the properties moving ahead.

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