The Edge Capital Markets Group has brokered the sale of a two-story, 38,650 square foot flex/office building located in the Bowie Business Park in Prince George’s County, Maryland for $3.177 million. Joe Friedman, Partner, Edge Capital Markets led a team that included Cristine Kleine, Wilson Purcell and Joshua Norwitz which represented the seller, RFF Collington LLC. The transaction was a 1031 tax-free change for the unnamed buyer entity and the asset was 94% leased at the time of the sale.
Located at 6000 Laurel Bowie Road at the signalized intersection of MD Routes 197 and 450 in Bowie, the building is sited on a nearly three-acre parcel and offers free on-site parking. Built in 1973, the building is approximately five miles from Interstate 495 (Capital Beltway), 15 miles from Annapolis, and 20 miles from BWI Airport and Washington, D.C. Approximately 65% of the current tenants are engaged in the medical and healthcare industries.
“This transaction was a successful partnership with Ten-X to facilitate an expedited sale process,” stated Joe Friedman of Edge. “The Edge Capital Markets team identified the ideal candidate to purchase the asset that was seeking to quickly complete a 1031 exchange. It was a seamless transition for our client, and the asset’s high traffic location, strong tenancy and I-1 zoning was of great interest.”
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. For additional information, visit www.edgecre.com.