Logistics Property Company has officially closed on a 22.5-acre site in Beltsville, Maryland, marking its first development in the Washington D.C. and Baltimore region.
Strategically located adjacent to MD-200 with immediate access to I-95, the site offers convenient connectivity to Washington, D.C., the Port of Baltimore, and Baltimore/Washington International Airport. “Our team is excited to be in the Washington D.C. and Baltimore market,” said Mark Glagola, Senior Vice President of Logistics Property Company’s Northeast Region.
Glagola, along with Development Manager Paul Whitford, collaborated with the Newmark Mid-Atlantic Industrial Capital Markets team—Ben McCarty, Cris Abramson, Nick Signor, and Henry Pleszkoch—who represented the seller in the transaction.
Once complete, the development, known as Beltsville Logistics Center, will encompass approximately 270,000 square feet across two buildings.
“Beltsville Logistics Center represents a rare, fully entitled development opportunity in an infill market that has not seen speculative development since 2007 due to the high barriers to entry and limited supply of available land,” said Ben McCarty, Managing Director at Newmark.
This project signals a significant step in expanding Logistics Property Company’s footprint in key Mid-Atlantic logistics markets.
