Co-warehousing firm WareSpace buys second building in D.C. region, eyes more
WareSpace LLC, a co-warehousing company that targets small businesses, recently bought a commercial building on the D.C.-Maryland line, a key step toward its goal of roughly doubling its portfolio by the end of 2025.
It’s the 7-year-old firm’s second location in Greater Washington; the other — WareSpace's first ever — is in Lanham.
A third regional acquisition in Northern Virginia is on the horizon, as the company aims to increase its nationwide portfolio from 1.7 million to 3 million square feet this year, co-founder and Chief Operation Officer Joseph Ely said to the Washington Business Journal.
WareSpace, based in Columbia, Maryland, acquired the roughly 83,000-square-foot, two-story, 1960s-era warehouse at 3342 Bladensburg Road in Brentwood, right on Prince George’s County’s border with D.C., for about $10.5 million on March 19.
WareSpace plans to modernize the building, including upgrading its mechanical systems, and split it into 80 to 100 spaces suitable in size and accessible in rental cost for small businesses, with an anticipated opening in the fall, Ely said.
Read more of the article from the Washington Business Journal HERE