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Edge Capital Markets Completes $25M Sale of Landover Office Building
Edge Capital Markets has brokered the sale of a 138,000-square-foot office building in the New Carrollton Metro Park of Landover, MD for $25 million. The seller was Washington, D.C-based Persimmon Capital Partners and the buyer was J1B Properties, LLC.
The asset was 93% leased at the time of the transaction.
“This asset was desirable for the purchaser because it offered stabilized, long-term cash flow with multiple credit-worthy tenants in a location that offers multi-modal public transportation and regional highway access,” said Edge partner Joe Friedman. “Additionally, the entire area surrounding the Metro station is included in a multi-phased mixed-use development master plan that will bring thousands of residential units and supporting retail amenities that will transform the area into a dynamic destination in the years to come.”
The two-story building sits on 12 acres adjacent to the New Carrollton Metro Transit Station and the intersection of the Capital Beltway and US Route 50.
- ◦Sale/Acquisition
