Mapletree sells DC-area warehouses for $102.6m

The properties total 576,852 sq. ft. and were 90% leased.

Mapletree US & EU Logistics Private Trust (MUSEL) has sold a 576,852-square-foot industrial portfolio in the Washington, DC area to an affiliate of Equus Capital Partners for $102.6m.

The six warehouses are located in Collington Industrial Park in Upper Marlboro, Maryland, one of Prince George’s County’s strongest industrial markets.

This is MUSEL’s third U.S. warehouse sale this year, following a July sale of a 2.4 million-square-foot, 10-property portfolio for $241.2m and a June sale of a 1.8 million-square-foot, 30-building portfolio for $328m.

Cushman & Wakefield’s Northeast Industrial Advisory Group represented Mapletree in the deal

The properties, located in Collington Industrial Park, were 90% leased at closing to a mix of tenants, Equus said in a separate statement.

Buildings range from 50,000 to 150,000 square feet and feature flexible layouts, modern loading, and direct access to Route 301 and I-95, connecting to Washington, D.C., Northern Virginia, and Baltimore.

Equus plans capital improvements, including new exterior paint, landscaping, signage, and repaving, to boost tenant appeal and long-term value.

“This acquisition aligns with our strategy to invest in well-located, income-producing light industrial assets with potential for future value creation,” said Tim Feron, senior vice president of acquisitions at Equus.

Equus manages 30 million square feet of industrial assets nationwide and controls land for another 3 million square feet of development, along with a 5,700-unit multifamily portfolio.