LBA Realty Acquires Industrial Property In Capitol Heights, MD For $20.4M

The industrial property located at 8700 Ritchie Drive in Capitol Heights, MD was recently sold in a transaction on June 12, 2023. The property spans a total of 103,193 square feet and was sold for a price of $20,400,000. This translates to a price per square foot of $198.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $20,400,000
• Address: 8700 Ritchie Drive, Capitol Heights, MD
• Market: Capitol Heights, MD
• Buyer: LBA Realty
• Seller: The Pinkard Group & Principal Asset Management
• Square Footage: 103,193
• Price per Square Foot: $198

LBA Realty served as the buyer in this transaction, while The Pinkard Group & Principal Asset Management acted as the sellers. This successful deal not only highlights the property's value and attractiveness, but also demonstrates the strong presence and expertise of LBA Realty as a prominent player in the commercial real estate market.