{"id":1004103605,"date":"2014-09-11T11:49:48","date_gmt":"2014-09-11T19:49:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=290979"},"modified":"2020-05-19T04:24:30","modified_gmt":"2020-05-19T12:24:30","slug":"mrp-industrial-aew-break-ground-on-220800-sf-spec-project-in-prince-georges-county","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mrp-industrial-aew-break-ground-on-220800-sf-spec-project-in-prince-georges-county\/","title":{"rendered":"MRP Industrial, AEW Break Ground on 220,800-SF Spec Project in Prince George\u2019s County"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/09\/544415752.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-290981\" title=\"544415752\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/09\/544415752.jpg\" alt=\"\" width=\"300\" height=\"148\" \/><\/a>MRP Industrial, an affiliate of MRP Realty, and AEW Capital Management recently broke ground on a new speculative industrial building in Prince George\u2019s County. The project is scheduled to be completed next spring.<\/p>\n<p style=\"text-align: justify;\">The Class A facility is located at 16115 Queens Court, in Bowie. MRP Industrial and AEW are constructing it on a 12.8-acre site within Collington Trade Center, an industrial park with 32 buildings and 4.1 million square feet of single-tenant distribution space. The park is home to companies such as Safeway, Nordstrom, Buck Distributing, Verizon, Welch &amp; Rushe, Tribles, McArdle Solutions and Rexel Electric Supply, as well as FedEx Ground&#8217;s new 175,000-square-foot package sorting facility.<\/p>\n<p style=\"text-align: justify;\">Once complete, the building will offer 220,800 square feet of industrial space. According to the developers, it will feature 50 off-building trailer storage stalls, a rare amenity in the land-constrained marketplace, as well as 32-foot clear height and parking spaces for 170 vehicles.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/09\/68647384.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-290980\" title=\"68647384\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/09\/68647384.jpg\" alt=\"\" width=\"166\" height=\"300\" \/><\/a>The cost of the project was not disclosed. It is designed by Ben Dyer Associates and MGMA. Nardi Construction is the general contractor, with financing provided by Eagle Bank. NAI Michael Co. is the leasing agent for the project.<\/p>\n<p style=\"text-align: justify;\">\u201cOur strategic investment with AEW on this project addresses the need for Class A industrial space and capitalizes on the increase in valuations for stabilized buildings in the local market,\u201d D. Reid Townsend, principal with MRP Industrial, said in a statement for the press. \u201cThe campus setting, prominent location and modern design features will be attractive to tenants seeking a distribution center to service the Mid-Atlantic region.\u201d<\/p>\n<p style=\"text-align: justify;\">According to CBRE\u2019s industrial market report for the second quarter of 2014, the overall vacancy rate in suburban Maryland declined 0.3 percent over the quarter, to 11.8 percent. Prince George\u2019s County had an overall vacancy rate of 11.5 percent. During the same period, suburban Maryland experienced a $0.03 per square foot drop in flex rents, to $10.53 per square foot, and an increase of $0.03 per square foot for warehouse rents, to $6.72 per square foot. In Prince George\u2019s County, the asking rent for flex buildings was $8.20 per square foot in the second quarter, while warehouse properties rented for $6.94 per square foot.<\/p>\n<address style=\"text-align: justify;\"><em>Photo credit:<\/em><em> <\/em><a href=\"https:\/\/www.collingtonpark.com\" rel=\"nofollow\" ><em>www.collingtonpark.com<\/em><\/a><em><\/em><\/address>\n<address style=\"text-align: justify;\"><em>Charts courtesy of <a href=\"https:\/\/www.cbre.us\/\" rel=\"nofollow\" >CBRE<\/a>.<\/em><em><\/em><\/address>\n","protected":false},"excerpt":{"rendered":"<p>MRP Industrial, an affiliate of MRP Realty, and AEW Capital Management have recently broken ground on a new spec industrial building in Prince George&rsquo;s County. The project is scheduled to be completed next spring.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004103605","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MRP Industrial, AEW Break Ground on 220,800-SF Spec Project in Prince George\u2019s County - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mrp-industrial-aew-break-ground-on-220800-sf-spec-project-in-prince-georges-county\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MRP Industrial, AEW Break Ground on 220,800-SF Spec Project in Prince George\u2019s County\" \/>\n<meta property=\"og:description\" content=\"MRP Industrial, an affiliate of MRP Realty, and AEW Capital Management have recently broken ground on a new spec industrial building in Prince George&rsquo;s County. 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