Located on Golden Triangle Dr., Triangle Business Centre sits on a nearly three-acre parcel of land within Prince George's County. The structure was built 17 years ago and has a current assessed value of approximately $7.5 million. New Boston acquired the property, which is currently fully leased, in 2000 for $8.25 million.
Goldstar officials confirmed for GlobeSt.com that no changes were made to the property prior to the sale. "Our acquisition and subsequent sale of Triangle Business Centre is consistent with New Boston Fund's strategy of acquiring properties that are cash flow positive from day one and offer capital appreciation potential," says company president Jerry Rappaport Jr. "The Greenbelt market has proven to be one of the most stable suburban markets in the Washington, D.C. Metropolitan area."
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