Reich Brothers Enters DC Industrial Market
Reich Brothers has expanded its Mid-Atlantic industrial portfolio with its first acquisition in the metro Washington, D.C., market. The 539,691-square-foot warehouse with cold storage capabilities in Landover, Md., is described as one of the largest infill distribution centers in the region.
Nuveen Real Estate was listed as the most recent owner of the property at 6304 Sheriff Road, according to CommercialEdge data. Nuveen had acquired it from Link Logistics in September 2019 as part of a 100-property portfolio transaction totaling 29 million square feet.
JLL Capital Markets and JLL Metro DC Industrial Leasing represented the buyer in the Landover deal.
A value-add industrial property near Washington, D.C.
Situated less than 2 miles from the DC line and minutes from the Capital Beltway, the 21.7-acre property also includes 4 acres of industrial outdoor storage space. Downtown Washington, D.C., is some 10 miles west.
Completed in 1963, the cross-dock facility features 15 docks, 24-foot maximum clear heights and 10,000 square feet of office space. The building also is one of the East Coast’s largest freezer/cooler assets with tri-temp capabilities, JLL noted.
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Bill Prutting, Craig Childs and Chris Dale from JLL’s Mid-Atlantic Industrial Capital Markets team were the sole advisors on the sale transaction. They partnered with John Dettleff, Dan Coats, Abbot Wallenborn and Sam Haas of JLL’s Metro DC Industrial Leasing team, which will lease the property on behalf of the new owner.
Reich plans to implement a multi-million dollar capital investment program. Improvements are slated to include installing a new roof, enhancing cold storage elements, upgrading the entrance and loading docks and completing interior and exterior painting.
More Reich Brothers moves
Reich Brothers, a 30-year-old firm focused on acquiring large-scale manufacturing, distribution and freezer/cold storage assets, has owned and operated more than 50 million square feet of industrial space across the U.S. The current deal expands its Mid-Atlantic portfolio to more than 2 million square feet, with additional purchases planned.
In another recent transaction, the firm acquired an industrial complex at 100-200 Sea Ray Drive in Merritt Island, Fla., from AAEA Investments LLC, for $27.7 million. Arnott Industries is the sole tenant of the Brevard County property.
In November 2023, Reich Brothers purchased a 309,968-square-foot industrial facility in Toledo, Ohio, from Stellantis in a sale-leaseback transaction. It was the firm’s first acquisition in the Toledo market.
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