Realterm Logistics has obtained District Business Center, a two-building, 63,523 Sq Ft. industrial complex in Washington, D.C.
The dealer was Berkeley Partners and the value of the agreement was $16.4 million.
Arnie Capute, Realterm Logistics’ associate vice president for Eastern region acquisitions stated that District Business Center gave the rare chance to acquire a remarkably well-located final-mile warehouse inside the city limits of Washington, D.C., a market with strong demographics and high barriers to new development.
Positioned at 5925 Blair Road NW and 6025 Kansas Avenue NW on 3.07 acres, the property is four miles from downtown; six miles from Bethesda, Md.; and 10 miles from Arlington, Virginia.
The D.C. industrial market consists of 252.8 million square feet ranging across D.C., Maryland, and Northern Virginia, and the pandemic started the interest in the sector, as e-commerce quickened and demand for modern, last-mile distribution space increased.