Upon sale of asset late last year by Edge, new owner awards property management and engineering services contracts to full-service management division of company
The management division of Edge, a full-service commercial real estate firm with offices in Washington D.C., Virginia, Maryland and Pennsylvania, has been awarded contracts to provide full-service property management and engineering services for8301 Professional Place in New Carrollton, Maryland. The Edge Capital Markets Group brokered the sale of the 138,000 square foot commercial office building to J1B Properties, LC late last year. Christina Martin, Director of Property Management will oversee the property management team and Shaun Comer, Director of Engineering will direct the facilities and engineering team for these requirements.
The two-story building, which was 93% leased at the time of the transaction, sits on 12 acres of land adjacent to the New Carrollton Metro Transit Station and the intersection of the Capital Beltway (I-495) and US Route 50. The building serves as the Mid-Atlantic headquarters for Giant Food which is part of the combined Stop & Shop/Giant Food supermarket chain, which is a wholly-owned subsidiary of Ahold Delhaize. WMATA also recently located into the building as part their continued expansion in the New Carrollton area
“Because of our familiarity with the building and the Montgomery County area, we were able to save the new buyer approximately $80,000 due to our involvement during the due diligence period,” explained Christina Martin, Director of Property Management for Edge Property Services Group. “Commercial office buildings in the suburban area are our sweet spot, and we are highly confident about our ability to increase value for the new owner with the implementation of cutting-edge property management and engineering processes.”
Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the Washington, D.C., Maryland, Northern Virginia, and Pennsylvania marketplaces. Founded in 2007, the company currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space. Visit www.edgecre.com.