Washington Capitol Partners LLC, a privately held real estate investment firm, is pleased to announce that it has reached a 16-year lease with W.B. Mason for 100% of its office and warehouse building located at 9420 Gerwig Lane in Guilford Industrial Park in Columbia, Md. Washington Capitol Partners acquired the primarily vacant 186,916 square foot asset in May 2015.
“This is an excellent value added industrial opportunity with W.B. Mason.” said Peter C. Minshall, managing partner, Washington Capitol Partners.
Minshall said that the typical lease is 10 years, but W.B. Mason required a long-term distribution facility that has the ability to service its growing business in the Washington metropolitan areas. The warehouse, located on 9.7 acres, has excellent access to I-95 and U.S. Route 29, Minshall said.
In addition to occupying the warehouse, W.B. Mason will offer its “Whatta Bargain Store” on the first floor where it will sell new, used, discontinued, and overstocked furniture and office supplies at discounted prices. Washington Capitol Partners is planning significant improvements and will manage the property.
Old Line Bank of Bowie, Md., provided acquisition financing. Bo Cashman at CBRE represented both the buyer and seller and Allen Cornell at NAI Michael represented W.B. Mason in the lease negotiation.
About Washington Capitol Partners LLC
Washington Capitol Partners is a full service real estate investment firm with a portfolio of properties including core DC office, warehouse/industrial, and retail located in and around the metropolitan Washington, DC area. During the past 12 months, the firm has acquired three properties totaling approximately 275,000 square feet and continues to focus on acquiring well positioned value added income producing real estate assets.