Stockbridge Buys Maryland Industrial Property for $57M

Stockbridge has acquired a 203,000-square-foot industrial property in Maryland for $56.6 million, almost four years after seller TA Realty bought the facility for about the same price.

The San Francisco-based investment management firm purchased the Class A building at 8511 Pepco Place in Upper Marlboro, Md., according to Cushman & Wakefield, which represented the seller. CoStar first reported the news.

The 13-acre property is fully leased to Harris Company, a mechanical contractor that has become a major service provider to hyperscale data center operators. Harris first occupied about 34 percent of the building before recently expanding to fill the entire space.

The facility was built in 2008 about half a mile east of the Capital Beltway and near Joint Base Andrews. It includes a 190-foot truck court, 26 dock doors, two drive-in doors, 218 parking spaces and roughly 75 trailer spots.

TA Realty acquired the asset from an affiliate of electrical distributor Sonepar in 2022 for $56.2 million.

Harris’ expansion comes as Greater Washington’s data center industry drives demand for industrial space tied to construction, infrastructure and operations.

Cushman & Wakefield’s Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check worked on the transaction.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.