Exclusive: PGIM, Ares Make $151M Industrial Deal Near DC

November 4, 2026

Industrial Investment Mid-Atlantic News More Washington D.C.

The assets are part of a 125-acre master plan.

Exterior shot of the 101,073-square-foot Building H within Brick Yard industrial park in Laurel, Md. — Building H within the Brick Yard industrial Park measures 101,073 square feet. *Image courtesy of Yardi Matrix*

Ares Management has paid $151.3 million to PGIM Real Estate for six industrial properties in Laurel, Md., according to Yardi Matrix information. The assets are buildings E through J, part of the Brick Yard industrial park on Mid Atlantic Boulevard.

Completed either in 2008 or in 2015, the facilities boost between five and 43 dock-high loading doors and between three and 13 grade-level loading doors. Additionally, buildings H and I feature clear heights ranging between 24 and 28 feet, the =data provider shows.

The warehouses are:

Building E, a 50,490-square-foot property at 13261 Mid Atlantic Blvd.
Building F, a LEED Silver-certified, 49,944-square-foot property at 13250 Mid Atlantic Blvd.
Building G, a LEED Silver-certified, 33,820-square-foot property at 13230 Mid Atlantic Blvd.
Building H, a LEED Silver-certified, 101,073-square-foot property at 13201 Mid Atlantic Blvd.
Building I, a LEED Silver-certified, 121,000-square-foot property at 13200 Mid Atlantic Blvd.
Building J, a LEED Silver-certified, 218,155-square-foot property at 13150 Mid Atlantic Blvd.

The facilities are just off U.S. Route 1, midway between downtown Washington, D.C., and Baltimore, some 24 miles away. Other major thoroughfares in the area include Interstate 95 and Maryland state routes 32, 197 and 198. Additionally, the properties are across the road from the Maryland National Memorial.

The six industrial properties are part of a 125-acre master plan, which encompasses a 10-building industrial component across 70 acres and a separate residential area.

Metro DC boasts strong industrial fundamentals

Industrial investment activity across metro Washington, D.C. strengthened this year, especially during the second quarter, when the market registered the second-strongest three-month period on record this year, according to a recent report by Marcus & Millichap. Through June, the average sale price rose 4.2 percent year-over-year to a record $250 per square foot.

Investors showed renewed institutional interest in suburban Virginia and Maryland markets, including the Dulles Corridor, Manassas and Price George’s County. Among those transactions was Starwood Capital Group’s acquisition of a 630,000-square-foot industrial asset at 220 Centreport Parkway in Fredericksburg, Va., for $146.3 million or $232 per square foot.