{"id":1004675765,"date":"2023-08-10T04:19:35","date_gmt":"2023-08-10T12:19:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004675765"},"modified":"2023-08-10T05:23:10","modified_gmt":"2023-08-10T13:23:10","slug":"500m-industrial-project-underway-in-metro-dc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/500m-industrial-project-underway-in-metro-dc\/","title":{"rendered":"$500M Industrial Project Underway in Metro DC"},"content":{"rendered":"
\"National<\/a>

NCBP’s first five buildings will come online early next year. Image courtesy of PCCP LLC<\/em><\/p><\/div>\n

Turnbridge Equities<\/strong> and Manekin<\/strong>, together with PCCP LLC<\/strong> and Qatar Investment Authority<\/strong>,\u00a0have commenced construction on the first phase of National Capital Business Park in Bowie, Md., totaling some 1.3 million square feet. At full build-out, National Capital Business Park will encompass 3.5 million square feet of Class A industrial space.<\/p>\n

The development team also includes Powers Brown Architecture, ARCO Design\/Build, Bohler Engineering, Kimley-Horn and Geo-Technology Associates Inc., among others. Completion of Phase I is expected in early 2024.<\/p>\n

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READ ALSO<\/strong>: Manufacturing’s Comeback Boosts Industrial Space Demand<\/a><\/p>\n

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The $500 million project marks PCCP\u2019s first collaboration with Manekin and Turnbridge, Managing Director Ryan Dodge said in prepared statements. He also noted that National Capital Business Park will become a sought-after last-mile distribution hub in the Washington, D.C., metro, currently experiencing a 3.5 percent industrial vacancy rate. The campus was designed to meet the needs of manufacturing, data centers, cold storage, last-mile and regional distribution users.<\/p>\n

A large-scale project<\/h2>\n

Turnbridge and Manekin acquired the 442-acre development site in Prince George’s County in December 2020. Three years later, in June 2023, the developers obtained $275 million in debt and joint venture equity for the project’s Phase I: A fund managed by Apollo Global Management provided a $165 million construction loan while PCCP and Qatar Investment Authority entered the partnership with $110 million in equity.<\/p>\n

Taking shape on a 94-acre lot at the northwestern corner of Leeland Road and Prince Georges Boulevard, NCBP Phase I will comprise four speculative buildings ranging from 160,000 to 310,000 square feet, together with a build-to-suit, 358,400-square-foot facility for Ferguson Enterprises.<\/p>\n

Each building will have 36-foot clear heights and solar panels on their rooftops. The property will feature ample parking across a combined 300 trailer spaces and 1,200 car spaces. NAI Michael Senior Vice President Jeffrey Ludwig, together with Vice Presidents Sally and Jeffrey D. K. Ludwig, are the appointed leasing brokers.<\/p>\n

Serving the entire Eastern Coast<\/h2>\n

The site is 10 miles from Washington, D.C., 30 miles from Baltimore, Md., and adjacent to Collington Trade Zone, a distribution hub that is home to Amazon, FedEx and Target, among others. The development\u2019s location will allow future tenants to serve the entire East Coast through the I-95 distribution corridor, that will offer connection to the Ports of Baltimore, Philadelphia and New York in the North, and to Richmond, Va., and the southeastern states in the South.<\/p>\n

This is not the only large-scale industrial project<\/a> PCCP is involved in. In July, the company partnered with Woodmont Industrial Partners and Butters Construction & Development for the construction of a 6.5 million-square-foot industrial campus where more than 70 companies are located, in Jupiter, Fla. The 303,364,-square-foot first facility will be delivered in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Totaling some 1.3 million square feet, Phase I will come online in early 2024.<\/p>\n","protected":false},"author":2991,"featured_media":1004675771,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,11,21742,1615],"tags":[34301,51642,35154,33053,36732,32974,49084],"class_list":["post-1004675765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-midatlantic","category-latest","category-washington-dc","tag-apollo-global-management","tag-arco-design-build","tag-manekin","tag-pccp-llc","tag-powers-brown-architecture","tag-the-qatar-investment-authority","tag-turnbridge-equities"],"acf":[],"yoast_head":"\n$500M Industrial Project Underway in Metro DC - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"National Capital Business Park's 1.3 million-square-foot first phase of development is currently underway in Bowie, Md.\" \/>\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\/500m-industrial-project-underway-in-metro-dc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$500M Industrial Project Underway in Metro DC\" \/>\n<meta property=\"og:description\" content=\"National Capital Business Park's 1.3 million-square-foot first phase of development is currently underway in Bowie, Md.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/500m-industrial-project-underway-in-metro-dc\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-10T12:19:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T13:23:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/National-Capital-Business-park-e1691660980955.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"769\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/500m-industrial-project-underway-in-metro-dc\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/500m-industrial-project-underway-in-metro-dc\/\",\"name\":\"$500M Industrial Project Underway in Metro DC - 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