Metro DC Office Park on the Market Again
- May 15, 2017
Just two months after ACS Edmonston Investment LLC acquired the four-building Calverton Office Park in Beltsville, Md. from Brandywine Realty Trust for a reported $9 million, the owner again selected Avison Young to market its sale. The complex encompasses three office buildings and a daycare center. A team fronted by Principals Chip Ryan, Jim Kornick and Niel Beggy already arranged the disposition of Calverton III, while Calverton I and IV are under contract.
“This area is enjoying an upswing, with leasing activity on the rise from both public and private tenants,” Ryan said in a prepared statement. “In addition, no new buildings are planned for the area, and the demographics here are very attractive. As a result, we expect considerable interest from investors and other potential buyers.”
Calverton III, located at 11720 Beltsville Drive, was recently purchased by Shaw Real Estate. The 128,903-square-foot multi-tenant office building was constructed in 1987, covers 7.3 acres, features 451 parking spaces and it is occupied by tenants such as PIRE and Alertus Technologies.
The first building under contract is Calverton I at 11700 Beltsville Drive. It was erected in 1981 and sits on a 6-acre parcel, comprising 96,843 square feet and 358 parking spaces. The most notable tenant is the FBI. The second one, Calverton II at 11740 Beltsville Drive, is a 6,783-square-foot daycare center sitting on 3.1 acres. It is fully occupied by KinderCare Learning Center.
The only available asset is Calverton II, located at 11710 Beltsville Drive. The 81,281-square-foot office building sits on a 6.3-acre parcel, it was built in 1981 and it features 244 parking spaces. Tenants include CliftonLarsonAllen LLP and ICC Team. The 313,810-square-foot, Class B office park sits on 22.7 acres and it provides easy access to Interstate 95, Interstate 495 and Powder Mill Road. It is also in the vicinity of hotels, Calverton Shopping Center and Little Paint Branch Park, while transportation is facilitated by three different bus stations.
Image courtesy of Avison Young