An affiliate of Industrial Property Trust has closed on the purchase of a 98,653 square foot trophy for $13.1 million. Located in Lanham, Maryland at 10100 Willowdale Road, the industrial property changed hands for just under $133 per sqf. The property is 7 miles east of Washington, D.C., and can accommodate both single-tenant and multitenant configurations and features a 38-foot clear ceiling height. The asset is the only warehouse with ceiling heights of 36 feet or greater available for lease in the Washington, D.C., and Baltimore metro areas. Transwestern represented the seller, PERSEUS Realty in the disposition of The Kane Company’s Office Movers former headquarters. “When The Kane Company closed, it created a rare opportunity to buy a state-of-the-art warehouse close to Washington, D.C.” said Senior Managing Director Mark Glagola, Transwestern. “The buyer interest and pricing show the strength of the market. Industrial Property Trust Inc. got a best-in-class building.”
