Bresler & Reiner Take over Washington Business Park for $55 Mil

LANHAM, MD-Washington, DC’s Bresler & Reiner, Inc. (B&R, Inc.) has plunked down $55 million for the Washington Business Park in Prince George’s County. In a joint venture with developer Cohen Cos. LLC, B&R purchased the nine-building property and its undeveloped 79-acre plot with the assistance of a $45-million loan from an unnamed source. The identity of the seller–though rumored to be New York’s Westbrook Partners–remains unconfirmed.

The entire compound occupies 250 acres along Route 50 and leases thousands of square feet to companies such as bottled water distributor Perrier, General Dynamics and Fujitec. Profits from leases account for an annual gross income of approximately $5.6 million. Cohen has a 20% stake in the property, with an option to take on an additional 30%.