14-Structure Portfolio Pulls in $55M

LANHAM, MD-A 14-building portfolio of office, flex and warehouse space has found itself under new ownership, courtesy of a recent $55 million transaction. Rockville, MD-based Beco Management Inc. acquired the 600,000-sf property in Prince George’s County from Robert G. Depew & Associates, which relied on the assistance of real estate service firm Cassidy & Pinkard to secure a new owner. The portfolio, which now carries the new name of Beco Park at Forbes Center, sports a location off Martin Luther King Boulevard near Route 50 and I-95/I-495 that places it at mid-point between Washington, DC, Baltimore and Annapolis.

The low-rise structures are divided among three “centers.” Forbes Center I, features six office buildings accounting for 147,000 sf, while Forbes Center II consists of three flex/R&D structures totaling 110,000 sf. Metro Business Center, the last piece of the puzzle, offers a 55,000-sf office building, and an additional 288,000 sf of space spread out among four office/R&D/distribution facilities. A variety of companies make their home at Beco Park, leaving the portfolio with an overall occupancy level of 93%. Among the tenants are the Mid-Atlantic Association of Community Health Centers, and a field office of the Maryland State Department of Education Division of Rehabilitation Services.