Marcus Partners Adds First Washington DC Metro Industrial Portfolio
Strategic Acquisition Expands Firm’s Industrial Portfolio To 2.7M Square Feet
Washington D.C., June 24, 2021 – Marcus Partners, a real estate investment, management and development firm, today announced the acquisition of Muirkirk Business Center, a two-building, small-bay industrial portfolio totaling 121,207 SF in Beltsville, Maryland. The transaction represents the firm’s fifteenth industrial acquisition and its first industrial acquisition in the Washington-Baltimore market. Similar to its industrial strategy in the Boston Metro area, the team anticipates creating a portfolio of Class A and B, strategically located industrial assets in the region.
“After successfully raising a $360,000,000 equity fund earlier this year primarily targeting both existing and development investments within industrial, multi-family, and life science, Muirkirk Business Center is a great addition to the growing portfolio,” said Andrew Dolinsky, a Principal of Marcus Partners and its Washington D.C. Regional Director. “This acquisition is an exciting milestone for our team given our conviction in the strength of the industrial sector and within the Washington D.C. Metro area as a whole.”
Well-located at 6850 Distribution Drive and 12201 Distribution Way in the Beltsville, Maryland submarket, the portfolio maintains strong access to major population and employment centers including Washington, D.C., Baltimore, Northern Virginia, and Montgomery County. Major transportation thoroughfares including I-95, I-495, Route 1, and the Intercounty Connector are all within minutes of the buildings.
Muirkirk Business Center is currently 96.5% leased to 12 tenants who have a weighted average tenure of nearly 20 years. The combined buildings sit on 6.6 acres of Industrial Heavy zoned land and offer tenants a 165’ shared truck court, 21’ to 23’ clear heights, 1 loading dock per every 5,500 SF, 1 drive-in per every 6,400 SF, and outside storage.
NAI Michael’s Lance Schwarz and Peter Burleigh led the acquisition/sale process and will continue leasing efforts at the properties going forward. Colliers International’s Erik Binkowski and David Kaizer led the financing process.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York City and Metro Washington, D.C. The firm focuses on strategic and opportunistic investment strategies across multifamily, industrial, life science and other property types where it can create value and maximize risk-adjusted returns. Its current portfolio includes approximately seven million square feet of commercial real estate along the East Coast. For more information, please visit www.marcuspartners.com.Back to All News