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REAL ESTATE INSIDER

Hanover flex property sells for $2.3M

Feldman Bergin Development along with partner Kenwood Management Co. purchased a 38,000-square-foot flex office property in Hanover for $2.3 million.

The purchase of the single-story property at 1334 Ashton Road is the first project for Washington-based Feldman Bergin. The company was founded last year by Evan C. Feldman, formerly of Archstone-Smith and Washington Property Co., and Robery Bergin, who previously worked for Corporate Office Properties Trust.

“This building is an opportunistic acquisition for our group, given the strong market fundamentals that exist in the Anne Arundel County submarket, coupled with the strong value-add prospects of this asset,” Bergin said in a statement. “We believe the economic drivers contained within this region, led by BWI International Airport, the presence of the federal government and a diverse business climate, will enable us to quickly accelerate the leasing of 1334 Ashton Road.”

Bethesda-based Kenwood is a commercial real estate investment and management firm that has been operating for 20 years.

Lee & Associates Chesapeake Region will serve as the leasing company for the property. Corporate Office Properties Trust sold the property and was represented by Newmark Grubb Knift Fran’s Cristopher Abramson in the deal.

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