Realterm Logistics announces the acquisition of District Business Center, a two building, 63,523-square-foot final-mile industrial complex. Located at 5925 Blair Road, NW and 6025 Kansas Avenue, NW in Washington, D.C., the fully leased buildings sit on 3.07 acres.
"District Business Center offered the rare opportunity to acquire an extremely well-located final-mile warehouse within the city limits of Washington, D.C., a market with strong demographics and high barriers to new development," said Arnie Capute, Associate Vice President, Eastern Region Acquisitions. "It is another example of our strategy to acquire functional infill warehouses in the top markets across the country."
District Business Center's location in the city positions it to capitalize on demand from tenants which deliver to D.C.'s dense and affluent population in short delivery timeframes. It is only four miles from downtown Washington, D.C., five miles from the National Mall, six miles from Bethesda, MD and 10 miles from Arlington, VA.
"This final mile investment is a great addition to our value creation strategy within RLIF," said Steve Panos, Senior Vice President, Fund and Asset Management. "We're acquiring an asset that provides an excellent level of high flow-through functionality, the option for repositioning in the long term, a very compelling basis and favorable zoning."
Highlights of the property include:
- Square feet: 63,523 SF between two buildings
- Land area: 3.07 acres
- Doors: 9
- Access: Blair Road NW and Kansas Avenue NW
Robert Bechtel and Daniel Gaffey of Institutional Property Advisors represented the seller and facilitated the transaction.