The largest leases signed during Q4 include Whole Foods’ 154,000 sq. ft. renewal at 1555 Cabin Branch Drive (Landover/Largo); Southland Industries’ 114,335 sq. ft. lease at 13150 Mid Atlantic Boulevard (Laurel); and HD Supply’s 92,153 sq. ft. renewal at 9230 Alaking Court (Capitol Heights).
Prince George’s County warehouse product continued to outperform during Q4, with the current vacancy rate of 5.2% down 30 bps during the quarter and 70 bps YoY.
Blackstone purchased four assets during the quarter resulting from the closing of its $18.7 billion portfolio purchase from GLP. The Suburban Maryland properties totaled 1,253,766 sq. ft. and sold for $146 million, or $116 per sq. ft.