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HYATTSVILLE, MD-The 145,000-sf Bank of America complex, consisting of three office structures, has gotten a new owner in a $6.6-million deal between seller Clark Realty and buyer Lexin Capital. Prince George’s County tax records list the assessed value of two of the property’s three structures at a total of $1.5 million.

Located at 6495 New Hampshire Ave., the complex was formerly the headquarters of Suburban Bank but now is home to Bank of America, which occupies a 7,000-sf space. The Bank of America building is currently 90% leased. Other tenants include the Visiting Nurses Association, which makes its home in a 26,000-sf space.

“This is an undervalued property with strong upside potential, in part because of near-term rollovers of leases with significantly below-market rents,” Lexin president Metin Negrin explains. “This office complex, in a prime location, provides an opportunity to reposition the property to secure more competitive rates and enhance future value.” Lexin plans to spend an additional $1.35 million on major upgrades.

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