156K-SF Center Sells, Following Occupancy Boost

Atapco Properties ended its five-year hold on the 156,393-square-foot Inglewood Business Center in Largo, MD, selling it to Rosenthal Properties for $16.5 million. The business center consists of two flex properties at 1220 and 1221 Caraway Court. Transwestern’s Gerry Trainor and Mark Glagola led the team representing the seller.

Transwestern brokered the disposition of Inglewood to Atapco in 2012, when it was 80% vacant. Transwestern’s Brian Watts, Jeff Groves and Jason Sullivan filled the property to 96% with tenants including the U.S. Department of Health and Human Services and the National Oceanic and Atmospheric Administration.

“Inglewood Business Center presented a compelling investment opportunity with market-changing developments at nearby properties, including the new Prince George’s Hospital Center,” Glagola said. “The leasing team has done a tremendous job in stabilizing this property with solid tenants, but there is still upside potential through leasing the remaining vacancy and market rent growth.”

Subscribe to Connect Daily National