An investment affiliate of 1788 Holdings, LLC has acquired 51 Ritchie Road, a single-story light industrial building totaling nearly 103,000 square feet of space in the Capitol Heights section of Prince George’s County, Maryland, for $15 million.
Situated on nearly eight acres, the site includes two acres of industrial outside storage land and is 100 percent leased and occupied by Bay Crane Mid-Atlantic. CBRE’s Matt Laraway and Luke Wilson represented the seller. 1788 Holdings, a privately-owned real estate investment firm that owns and manages a national commercial real estate portfolio spanning 13 states with a market value exceeding $250 million, was self-represented.
Bay Crane Mid-Atlantic was formed after Bay Crane Companies’ 2024 acquisition of United Crane & Rigging and Crane Rental Company, resulting in one of the largest crane companies operating in the Mid-Atlantic region. Delivered in the mid-1950s and renovated in the mid-1970s and in 1997, 51 Ritchie Road is equipped with 18- to 22-foot clear ceiling heights, 11 drive-in doors, and three dock doors, and is surrounded by a considerable amount of paved surface lot.
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