The largest leases signed during Q3 include Choice Stairways’ 102,000 sq. ft. lease at 8800 Lottsford Road (Landover/Largo); Children’s Hospital’s 40,178 sq. ft. renewal at 1511 Cabin Branch Drive (Landover/ Largo); and Rew Materials’ 40,000 sq. ft. deal at 8700 Ritchie Road (Capitol Heights).
Prince George’s County warehouse product contributed 175,527 sq. ft. of positive absorption during Q3, with the current vacancy rate of 5.5% down 70 bps YoY.
From The Heart Ministries purchased 4949 Allentown Road (Branch Ave), a warehouse/ distribution asset totaling 165,751 sq. ft., from Amerikor Investment Group for $14.6 million, or $88.08 per sq. ft., in the market’s largest sale during the quarter.