55,000-SF R&D Structure Sells for $7M

LANHAM, MD-Ownership of the new 55,000-sf, mixed-use structure at 4260 Forbes Blvd. has changed hands in an approximately $7 million deal between seller Healy Qualified Intermediary LLC and purchaser Forbes Boulevard LLC. A single-story office/R&D/distribution structure, 4260 Forbes was built in 2001. Prince George’s County taxation records do not list a value for the new structure, but the assessed value of the three-acre property on which the building sits is nearly $300,000.

The building is strategically located near US Rte. 50 and is fully leased to a variety of tenants including software developer Vocus, engineering firm Loiederman Soltesz Associates, and Northrup Grumman. “Today’s interest rates, coupled with the building’s logistics and tenant roster made it an attractive investment vehicle,” says Manekin LLC vice president George Santos. Manekin, developed the property and represented both the seller and the buyer in the transaction. The company is also on the verge of completing the development of a sister structure at 4230 Forbes Blvd.