Transwestern Brokers Sale After Increasing Occupancy by 76 Percent
Transwestern today announces it represented Atapco Properties in the disposition of Inglewood Business Center, two flex properties totaling 156,393 square feet at 1220 and 1221 Caraway Court in Largo, Maryland. Caraway Court Owner LLC, an investment group led by Rosenthal Properties, purchased the portfolio for $16.5 million. Transwestern’s Mid-Atlantic Capital Markets Group, led by Executive Managing Director Gerry Trainor and Senior Managing Director Mark Glagola, managed the transaction for Atapco.
“Inglewood Business Center presented a compelling investment opportunity with market-changing developments at nearby properties including the new Prince George’s Hospital Center,” said Glagola. “The leasing team has done a tremendous job in stabilizing this property with solid tenants, but there is still upside potential through leasing the remaining vacancy and market rent growth.”
Inglewood is adjacent to one of the sites that is strongly favored as the new FBI headquarters and part of a business park that is soon to be home to Prince George’s County executive headquarters and Prince George’s Regional Medical Center. It’s less than a half-mile from the Capital Beltway and a five-minute drive from the Largo Town Center Metro Station.
Transwestern brokered the disposition of Inglewood to Atapco in 2012, when it was 80 percent vacant. Transwestern Senior Vice President Brian Watts, Vice President Jeff Groves and Senior Associate Jason Sullivan provide leasing services for the portfolio, which is now 96 percent leased to a strong mix of tenants including the U.S. Department of Health and Human Services and the National Oceanic and Atmospheric Administration.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and@Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.
