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 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. Approximately 65% of the current tenants are engaged in the medical and health care industries.
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, Maryland, northern Virginia and Pennsylvania marketplaces.