The Feldman Group of Marcus & Millichap announced today the sale of 2804-2806 Douglas Street NE for $1,217,500 in the Langdon neighborhood of Washington, D.C. The 8,264-square foot office/industrial property traded for 101.5% of list price, equating to $147.33 per square foot. The property is situated just adjacent to the Bladensburg Road corridor.

Josh Feldman, First Vice President Investments, Ian Ruel, Senior Investment Associate, and LaMarr Datcher, Investment Associate, of the Feldman Group brokered the transaction. The seller, Capital Services & Supplies, Inc., decided to sell the property in preparation of the owner’s upcoming retirement and to take advantage of peak pricing within the current real estate cycle. The buyer, Dynamic Contracting Inc., plans to make minor renovations and use the space as their Washington, D.C. office following a short-term leaseback. “This was a user-to-user deal as Capital Services & Supplies, Inc. is a family business that has run its operations out of the subject property for over 30 years,” says Feldman. “Dynamic Contracting Inc. is also a family business and is excited to grow the company’s presence throughout the Washington D.C. metropolitan area for years to come.”

“The market for owner-user deals remains strong as business owners continue to shift from leasing office space to making real estate ownership a part of their long-term business plans,” says Datcher. “Though interest rates continue to rise, qualified buyers consistently obtain the necessary financing. The purchasing power of Buyers remains strong,” he concludes.

About The Feldman Group of Marcus & Millichap

The Feldman Group of Marcus & Millichap specializes in the marketing and sale of urban infill properties including retail, office/industrial, and mixed-use product types. The Feldman Group is comprised of First Vice President of Investments Josh Feldman, Senior Investment Associate Ian Ruel, and Investment Associates Ryan Smith, LaMarr Datcher, and Walsh Richards.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,900 transactions in 2017 with a value of approximately $42.2 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com