Middle Market Digest: The Mid-Atlantic

900 16th St., NW

DEAL TRACKER

WASHINGTON, DC–Trammell Crow Co. and joint venture partners, Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital Real Estate, have completed the sale of the 1.5-acre Sentinel Square III site located at 45 L St. NW, to an institutional investor joint venture advised and managed by MetLife Investment Management. Sentinel Square III is scheduled to deliver in the beginning of 2020 and is part of Trammell Crow Co.’s office development program, which includes Patriots Plaza and National Square in Washington DC as well as various build-to- suits around the country. Bill Collins, Shaun Weinberg and Chris Riley of Cushman & Wakefield represented Trammell Crow CO in the transaction.

WASHINGTON, DC–Foulger-Pratt has acquired a 0.85-acre redevelopment site in NoMa located at 72 Florida Ave., NE, for $10.5 million. It plans to develop a self-storage facility there. Josh Feldman and Bob Filley of Marcus & Millichap marketed the property on behalf of the seller, an owner-operator commercial glass company who had inherited the property from a previous generation. Feldman and Filley were assisted by Ian Ruel and Robert Bechtel.

GAITHERSBURG, MD–The Matan Cos. has acquired a 78,164 square foot industrial park located at 7650-7750 Airpark Dr. The 5.4-acre property, known as Airpark Industrial Center, is comprised of three buildings, a 47,878 square foot warehouse, a 21,780 square foot warehouse, and an 8,506 square foot retail building, with a fully fenced, lighted parking lot. “We continue to expand our industrial portfolio across the region and are thrilled to be back in the Montgomery County industrial market,” said James Matan of the Matan Cos., in a prepared statement. The seller is Office Paper Systems, which used the property as its headquarters before it was vacated. The seller was represented by Gary Montgomery of HBW Group.