UPPER MARLBORO, MD-Panattoni Development has acquired 51.45 acres here, of which 42 acres support flexible E-I-A (Employment Institutional Area) zoning. The firm acquired the three parcels from furniture retailers Marlo’s Furniture, which had originally bought the land to build a warehouse for its own operations. Instead, the company decided to sell the land.

Andy Stape, Joe Friedman and Mat Adler of Transwestern’s ASSET Investment Sales Group and Mark Glagola of Transwestern’s Columbia office brokered the sale, representing Marlo Plaza IV, LLC. The $6.3 million, three-parcel purchase is located off of Prince George’s Boulevard at Queen’s Court in Prince George’s County in the Bowie industrial submarket. Panattoni plans to leverage the location to develop several industrial facilities on the site, Stape tells GlobeSt.com. The company did not return a call to GlobeSt.com in time for deadline.

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