Transwestern to Handle Sale of DC-Area Office Asset
- Jun 26, 2017
Cohen Equities selected Transwestern to market the sale of one of its Washington, D.C. metro area office buildings. The sales and marketing efforts will be led by Transwestern’s Mid-Atlantic Capital Markets Senior Managing Director Mark Glagola. The firm has been handling the property management and leasing services for the building since 2015, according to Yardi Matrix.
The 174,000-square-foot structure is located at 3311 Toledo Road in Hyattsville, Md. and last traded in 2015, when Cohen Equities acquired it for $7.3 million through a foreclosure. The Class A asset was built in 2003 and encompasses eight stories clad in marble and granite.
Direct access to the Metro
Located 7 miles northeast of Washington, D.C., the asset is situated within the soon-to-be renovated Prince George’s County Metro Center Complex, which comprises 1.3 million square feet of office space, 120,000 square feet of retail space, 134 residential condos and 910 multifamily/student housing units. Notable tenants include the Centers for Disease Control, which occupies 55 percent of the building and the National Center for Health Statistics. Additionally, the facility is sited directly across from the Green Line Metro Station and the University of Maryland, providing tenants with easy access to Interstate 95 and 495 and Route 295.
“The top two floors and first floor will be available for lease in the near future, and the property is well-positioned to capture a federal, state or county tenant that requires public transportation,” Glagola said in a prepared statement.
Image courtesy of Cohen Equities