Besides Friedman, Andy Stape and Mat Adler also represented thebuyer in the sale. The seller is undisclosed, and Friedman declinedto reveal its identity. The 54,962-sf flex building, located at4260 Forbes Blvd., is fully occupied by three tenants, includingNorthrop Grumman, which occupies nearly 40% of the building. Thesingle-story flex building was built in 2001 and features 16-footclear heights and ten exterior loading docks.
Demand for flex property in Lanham is stable, Friedman says--thetrue appeal of the property's location, rather, is that it is partof the Washington Business Park, one of Prince George's County'sbest offerings. Another recent trade inthat park was a nine-asset, 565,991-sf office/flex portfolio, for$68 million, in May. Jim Darby, Rob Foa, Gerry Trainor, and DanSpeilman of Transwestern's Institutional Commercial Grouprepresented the seller, Cohen Cos., in that portfolio sale, whichconsisted of two office buildings and seven flex buildings.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
