Matan Companies Acquires 44,000 SF in Prince George’s County
5 December 2022
Matan Companies announced today the purchase of 8520-8540 Ashwood Drive, a 44,000 square foot industrial property in Prince George’s County, Maryland. The fully leased building is located at the intersection of Ashwood Drive and Ritchie Road in Capital Heights, inside I-495, the Capital Beltway. Featuring 24’ clear ceiling height, multiple drive-ins, and 1.2 acres of secure outdoor storage, the property is currently home to Foundation Building Materials, a leading construction materials distributor.
“8520-8540 Ashwood Drive represented a rare opportunity to acquire a functional industrial asset with outdoor yard space inside the Beltway at well below replacement costs,” said Scott Morris for Matan. “The property is a great addition to our focus of developing and acquiring industrial assets in infill, high-barrier markets.”