The two-building property, consisting of a class A office structure and a retail building, offers just over 181,000 sf of leasable space and is currently leased to maximum capacity. The tenant roster includes Bank of America and NRL Federal Credit Union.

"Properties with strong tenancy continue to be of significant interest to a wide range of investors," Grubb & Ellis senior vice president Eric Berkman explains. Berkman and colleague Steve Gichner represented the seller in the transaction. "This price, the highest paid per-sf in southern Prince Georges County, demonstrates the continued strength of the investment market."

Corporate Office Properties intends to direct profits from the sale towards assets within its core markets. Constellation Centre was the company's only property in Prince George's County.