The warehouse, located at 9950 Business Parkway, is 79% leased to two large national tenants, Dal-Tile Corp. and Brook Furniture Rental. It is expected to produce a 5.9% initial yield that will increase to 7.2% upon lease-up of the remaining vacant space.WRIT has a strong presence in the Washington area's industrial sector. In February, it acquired Hampton Overlook and Hampton South, a portfolio of five warehouses totaling 303,000 sf in Capital Heights, MD.
WRIT also has devoted significant resources to diversifying its portfolio into the medical office sector in recent months. It bought the Alexandria Professional Center, a 113,000-sf medical office property that is 100% leased to 36 medical tenants; two buildings in a fully leased, four-building portfolio; and a 33,000-sf medical building in Bel Air, MD, which is 100% leased to five tenants.
"WRIT now owns the best medical office portfolio in the Washington DC metro area," WRIT's CEO Edmund Cronin Jr. said during a recent earnings call. "The portfolio will consist of 826,000 sf, is 99% leased and is concentrated around three of the fastest-growing, financially stable acute-care hospitals in the region."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
