Peloton is leasing industrial space in Prince George’s County to help distribute its connected stationary bikes and treadmills across the D.C. region.
The growing fitness company signed an 84K SF lease in a newly built warehouse project at 716 Ritchie Road in Capitol Heights, Bisnow has learned.
Developer Pinkard Group, in partnership with Columbia Real Estate Management, delivered the 159K SF industrial building last month, with the remainder of the spec development still vacant. Newmark worked with the team in developing and leasing the building, branded as Hampton Gateway.
The development team closed on a deal this month to sell the property to a large institutional investor, Pinkard Group principal Fred Underwood told Bisnow. He declined to disclose the name of the buyer or the price, and the sale hasn’t appeared in public deed records.
Click here to read the rest of the article written by over Jon Banister over at Bis Now
