Key Takeaways
- • Ares Management paid $151.3 million to PGIM Real Estate for six industrial buildings (E through J) in the Brick Yard industrial park in Laurel, Maryland, according to Yardi Matrix information.
- • The buildings, completed in 2008 or 2015, sit just off U.S. Route 1 roughly midway between Washington, D.C. and Baltimore, and offer between five and 43 dock-high loading doors per CommercialSearch.
- • Washington-area industrial investment is strengthening: Q2 2026 was the metro's second-strongest three-month period on record, and the average industrial sale price reached a record $250 per square foot through June, up 4.2% year over year, per CommercialSearch.
- • Data providers disagree sharply on construction pipeline size, with Matthews reporting roughly 42.8 million square feet under construction versus Savills' 0.7 million square feet for Washington, D.C.
- • The Laurel deal follows other recent transactions, including Starwood Capital's $146.3 million purchase of a 630,000-square-foot Fredericksburg, Virginia asset and an Ares real estate fund's $150 million loan on a separate industrial portfolio.
Summary
Ares Management has paid $151.3 million to PGIM Real Estate for six industrial properties in Laurel, Maryland, according to Yardi Matrix information. The assets, identified as buildings E through J, form part of the Brick Yard industrial park on Mid Atlantic Boulevard, per CommercialSearch. The buildings were completed in either 2008 or 2015 and collectively offer between five and 43 dock-high loading doors and three to 13 grade-level loading doors. Buildings H and I feature clear heights of 24 to 28 feet, while Building E alone totals 50,490 square feet at 13261 Mid Atlantic Boulevard.
Brick Yard is part of a larger 125-acre master plan that includes a 10-building industrial component across 70 acres and a separate residential section, according to the outlet's reporting. Developer Jackson Shaw describes the industrial piece, Brick Yard Urban Industrial, as planned for more than 700,000 square feet of buildings, according to the developer's project page. The properties sit near Interstate 95 and Maryland State Routes 32, 197 and 198, with Baltimore roughly 24 miles away, positioning them between the Washington and Baltimore labor pools.
Industrial investment across metro Washington has strengthened this year. According to CommercialSearch, the second quarter of 2026 was the market's second-strongest three-month period on record, and the average industrial sale price climbed 4.2% year over year to a record $250 per square foot through June. KLNB's quarterly review found that Maryland and Northern Virginia industrial markets both benefited from improving absorption, stable vacancy and continued demand from logistics, manufacturing, technology and service tenants.
Sources diverge on supply. Matthews put Washington industrial construction at roughly 42.8 million square feet in the second quarter, including about 3 million square feet of logistics space. Savills reported only 0.7 million square feet underway in Washington, D.C. in the same quarter, down more than 50% from a year earlier. The firms do not reconcile the gap, which may reflect differing market boundaries or methodologies. Newmark's third-quarter figures show the broader Washington Metro market absorbing more than 850,000 square feet on a net basis while adding roughly 750,000 square feet of deliveries. CommercialSearch also reports renewed institutional interest in suburban Virginia and Maryland markets, including the Dulles corridor, Manassas and Prince George's County.
The Laurel purchase fits a broader pattern of recent deals. Starwood Capital Group acquired a 630,000-square-foot industrial asset at 220 Centreport Parkway in Fredericksburg, Virginia, for $146.3 million, or $232 per square foot, per CommercialSearch. In Prince George's County, an investment affiliate of 1788 Holdings paid $15 million for a 103,000-square-foot building at 51 Ritchie Road in Capitol Heights, according to The Daily Record. Catalyst bought a separate Prince George's County industrial site for $6.7 million, per the Washington Business Journal. Ares has also been active on the financing side, with an Ares real estate fund previously securing a $150 million loan on a separate six-property, 1.8 million-square-foot industrial portfolio, according to a prior CommercialSearch report.
Brick Yard is part of a larger 125-acre master plan that includes a 10-building industrial component across 70 acres and a separate residential section, according to the outlet's reporting. Developer Jackson Shaw describes the industrial piece, Brick Yard Urban Industrial, as planned for more than 700,000 square feet of buildings, according to the developer's project page. The properties sit near Interstate 95 and Maryland State Routes 32, 197 and 198, with Baltimore roughly 24 miles away, positioning them between the Washington and Baltimore labor pools.
Industrial investment across metro Washington has strengthened this year. According to CommercialSearch, the second quarter of 2026 was the market's second-strongest three-month period on record, and the average industrial sale price climbed 4.2% year over year to a record $250 per square foot through June. KLNB's quarterly review found that Maryland and Northern Virginia industrial markets both benefited from improving absorption, stable vacancy and continued demand from logistics, manufacturing, technology and service tenants.
Sources diverge on supply. Matthews put Washington industrial construction at roughly 42.8 million square feet in the second quarter, including about 3 million square feet of logistics space. Savills reported only 0.7 million square feet underway in Washington, D.C. in the same quarter, down more than 50% from a year earlier. The firms do not reconcile the gap, which may reflect differing market boundaries or methodologies. Newmark's third-quarter figures show the broader Washington Metro market absorbing more than 850,000 square feet on a net basis while adding roughly 750,000 square feet of deliveries. CommercialSearch also reports renewed institutional interest in suburban Virginia and Maryland markets, including the Dulles corridor, Manassas and Prince George's County.
The Laurel purchase fits a broader pattern of recent deals. Starwood Capital Group acquired a 630,000-square-foot industrial asset at 220 Centreport Parkway in Fredericksburg, Virginia, for $146.3 million, or $232 per square foot, per CommercialSearch. In Prince George's County, an investment affiliate of 1788 Holdings paid $15 million for a 103,000-square-foot building at 51 Ritchie Road in Capitol Heights, according to The Daily Record. Catalyst bought a separate Prince George's County industrial site for $6.7 million, per the Washington Business Journal. Ares has also been active on the financing side, with an Ares real estate fund previously securing a $150 million loan on a separate six-property, 1.8 million-square-foot industrial portfolio, according to a prior CommercialSearch report.
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