GREENBELT, MD—An affiliate of Miami Beach-based Savitar Realty Advisors has acquired Golden Triangle I and II, a 250,000 square foot office complex here for $14.4 million, or approximately $58 per square foot.
The property is 57% occupied, but will be almost 70% leased when a lease with a major tenant in hand is signed.
Savitar intends to make a significant investment in capital improvements and to renovate the building to bring it up to the Class A status. Located in the Golden Triangle Office Park, the office complex is close to the NASA-Goddard Space Flight Center in Lanham-where Savitar recently acquired the Aerospace Building.
The buildings, located at 7833 and 7855 Walker Dr., last traded in 2001 when Atlantic Realty Co. purchased it from Harbinger Golden Triangle and Harbinger Real Estate Partners. In 1996 Prudential Insurance Co. sold the properties to the Harbinger Fund for $24.5 million.
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