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Stockbridge buys TA Realty's Upper Marlboro industrial building for $56.6M

The 202,976-square-foot building is fully leased to Harris Company, a mechanical contractor serving data center hyperscalers.

At a glance

  1. What Stockbridge is really underwriting, though, is the tenant: Harris Company, one of the nation's largest mechanical contractors, recently expanded into the balance of the building and already occupies 75,000 square feet at the neighboring 8520 Pepco Place.
  2. Harris is a provider to data center hyperscalers, which ties the rent to the same construction and fit-out calendar now pulling institutional capital into digital infrastructure.
  3. For TA Realty, the disposition is modest next to a recent run that includes $1.5 billion in registered assets, 152 employees, a $300 million deal announcement in mid-September, and a $105.5 million closing on Sept. 22.

Cushman & Wakefield arranged the $56.6 million sale of 8511 Pepco Place, a 202,976-square-foot industrial building in Upper Marlboro, Maryland, from TA Realty to Stockbridge at roughly $279 a square foot, with the brokerage's Mid-Atlantic Industrial Advisory Group — Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check — representing the seller. What Stockbridge is really underwriting, though, is the tenant: Harris Company, one of the nation's largest mechanical contractors, recently expanded into the balance of the building and already occupies 75,000 square feet at the neighboring 8520 Pepco Place.

Harris is a provider to data center hyperscalers, which ties the rent to the same construction and fit-out calendar now pulling institutional capital into digital infrastructure. The building itself is straightforward warehouse product, adjacent to the I-495/I-95 interchange and about 15 miles from Washington, D.C., not a powered shell. Carpenter, an executive managing director at Cushman, framed the offering around the strength of the Harris tenancy and the site's access to the D.C. metropolitan region.

For TA Realty, the disposition is modest next to a recent run that includes $1.5 billion in registered assets, 152 employees, a $300 million deal announcement in mid-September, and a $105.5 million closing on Sept. 22. Smaller exits like this one are how a manager that size keeps its industrial book moving without waiting on portfolio-scale bids.

The same tenant-side demand shows up elsewhere on Cushman's industrial desk: this publication reported Sept. 29 that Lyft, Uber, Waymo and Zoox leased nearly 1 million square feet of robotaxi industrial space this year, more than the 830,000 square feet the four companies signed from 2022 through 2025 combined, according to Cushman data obtained by Bisnow.

Stockbridge's posture is the inverse of the build-over-buy trade this publication has been tracking, in which managers chase entitlements rather than standing buildings on the argument that frozen construction starts make 2028 supply scarce. Here the buyer takes in-place income from one name in a submarket where that name's growth depends on hyperscale capex continuing at pace. The concentration that makes the credit story clean leaves no cushion: one tenant, and a rent roll no other lease diversifies. The coverage does not say what term Harris signed, which is the detail that decides whether $279 a square foot was cheap.

Reported by the Deals desk from Connect CRE, PRED archive and entity files and Commercial Observer. Published . Updated Oct 27, 2026 · 10:23 a.m. ET. Corrections

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