The Silverman Group plans to put a 66,000-square-foot addition on the 110,000-square-foot industrial property at 3300 Marlo Lane in Forestville.
by Alan Kline
The Silverman Group, a New Jersey developer of industrial properties, has acquired a longtime warehouse and showroom in Forestville and is planning a major expansion of the property to reposition it as a regional distribution and logistics hub.
Silverman bought the 110,000-square-foot property at 3300 Marlo Lane from Boston’s Oliver Street Capital, which jointly acquired it with Dallas-based CGMG Capital in late 2021 for about $31 million, according to news reports and public records.
Silverman did not disclose what it paid for the property, which sits on about 11 acres just west of the Capital Beltway, near the intersection with Pennsylvania Avenue in Prince George’s County. The property’s assessed value is $28.2 million, according to the Maryland Department of Assessments and Taxation.
The 1970s-era building was a longtime showroom for Marlo Furniture and was more recently home to an Ashley Outlet & Clearance Center. Marlo Furniture, once one of the region’s largest furniture retailers, went out of business late last year.
Silverman has rebranded the site as the Capital Interstate Logistics Center and plans to build a 66,259-square-foot addition it expects to complete by the summer of 2027. Once finished, the property will weigh in at just over 176,000 square feet, with 32-foot ceilings throughout and 37 dock doors.
The acquisition is the second industrial purchase for Basking Ridge, New Jersey-based Silverman in the D.C. region in recent months and continues the company’s aggressive expansion across the mid-Atlantic region.
In January, Silverman bought roughly 50 small-bay, flex and industrial warehouses across Maryland and Virginia in an off-market deal, paying $203 million for the 1.4 million-square-foot portfolio. That followed its November acquisition of a six-building, 1 million-square-foot portfolio near Richmond International Airport.
The company also has about 15 million square feet of industrial properties in development, including a 2 million-square-foot distribution center it’s jointly developing near Petersburg, Virginia, for Danish toy giant Lego Group.
Silverman has tapped Cushman & Wakefield’s John Boote and McLane Fisher to market the Forestville site. The firm said it could be marketed to a single tenant or multiple users.
“The property’s scale, location, functionality and expansion potential make it highly attractive for a wide range of industrial tenants,” said Toby Nelson, executive vice president of industrial leasing at SL Industrial Partners, a Silverman Group Company.
Cushman & Wakefield’s Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check, represented the seller, Oliver Street, in the sale of the Forestville property.
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