Located off Interstate 95 near the Capital Beltway, the 10-story facility at 11720 Beltsville Dr. is one of three office structures that comprise the 300,000-sf Calverton Office Park. The 19-year-old building is also home to mortgage banker Atlantic Financial Mortgage Inc. and Internet publisher Cygnus Interactive.
Brian Cornrich and Greg Lubar of the Staubach Co. represented the tenant. Property owner Prentiss Properties was represented internally by David Miller.
Financial specifics of the lease transaction have not been revealed. Cornrich and Lubar describe the terms as "well-below market." The average leasing rate for class A office space in the Beltsville/College Park submarket is $23.26 per sf, as per Cushman & Wakefield's Year-End 2005 MarketBeat Snapshot report.
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