Niel J. Beggy and Daniel M. McGivney of Cushman & Wakefieldrepresented New Boston Fund in the transaction. Current tenantsinclude the Prince George's County Board of Education.
The building is located within the Inglewood Business Park, a538,554-square-foot complex with two office and five flex buildingsthat New Boston acquired at the beginning of last year. Othertenants in the park include Inphonic Linemark Printing and RxSolutions. Overall, the park has a 70% occupancy rate.
The property--1801 McCormick Dr., specifically--is now 60%occupied with this latest lease, Beggy tells GlobeSt.com. Theasking rate for the building is $22.95 per square foot, fullservice. Largo, like most outer DC area submarkets, has beenfeeling the pinch from the economy, Beggy explains, as "portions ofthe building have been vacant for more than two years."
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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.
