Besides Friedman, Andy Stape and Mat Adler also represented the buyer in the sale. The seller is undisclosed, and Friedman declined to reveal its identity. The 54,962-sf flex building, located at 4260 Forbes Blvd., is fully occupied by three tenants, including Northrop Grumman, which occupies nearly 40% of the building. The single-story flex building was built in 2001 and features 16-foot clear heights and ten exterior loading docks.
Demand for flex property in Lanham is stable, Friedman says--the true appeal of the property's location, rather, is that it is part of the Washington Business Park, one of Prince George's County's best offerings. Another recent trade in that park was a nine-asset, 565,991-sf office/flex portfolio, for $68 million, in May. Jim Darby, Rob Foa, Gerry Trainor, and Dan Speilman of Transwestern's Institutional Commercial Group represented the seller, Cohen Cos., in that portfolio sale, which consisted 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.
