(To read more on the industrial market, click here.)
LARGO, MD-Upper Marlboro-based MTM Builder/Developer Inc. hassold a seven-building, 536,197-sf office and office/flex portfoliohere. The New Boston Fund paid $69 million for the portfolio. Grubb& Ellis Co. represented MTM in the transaction.
The portfolio, located in Inglewood Business Park--a complexclose to Prince George's County's central businessdistrict--consist of two class A office buildings and five class Aoffice/flex buildings. These include, according to MTM's website,9200 Basil Ct., a five-story, 103,848-sf office building; 1801McCormick Dr., a five-story, 113,709-sf office building; 9301Peppercorn Pl., a single-story, 51,667-sf office/R&D/flex spaceproperty; single-story 1601 McCormick Dr., which consists of 62,102sf of office/R&D/flex space; 1441 McCormick Dr., a 50,606-sfoffice/R&D/flex single-story building; 1220 Caraway Ct., whichhas 78,197 sf of office/R&D/flex space; and 221 Caraway Ct., a78,197-sf office/R&D/flex space facility.
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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.
