November 10, 2020
Newmark has arranged the $12.3 million sale of 8700 Ritchie Drive, a 103,000-square-foot industrial facility in Capitol Heights, MD.
Located in the Hampton Park submarket of Capitol Heights, the facility was built in 2000 and features 26-foot clear heights. The property is situated on a six-acre, fenced-in lot that offers ample parking as well as secure outdoor storage. At the time of sale, the property was 40% leased to tenant REW Materials. Brian Kruger of Newmark has been tapped as the exclusive leasing agent for the remaining vacant space at the facility.
Cris Abramson, Nick Signor, Ben McCarty and Lisa Benjamin of Newmark represented both the buyer, The Pinkard Group, and the undisclosed seller in the transaction. The Pinkard Group is a regional private real estate investment and development company.
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