New Leasing Team at Seven-Building Business Park

LANHAM, MD-Southgate at Washington Business Park gets a new leasing team following First Industrial Realty Trust Inc.’s recent purchase of the 440,000-sf office, flex and warehouse property. The owner has tapped Transwestern Commercial Services to take over the activities after having relied on the real estate services firm’s representation during the $25.5 million acquisition transaction. The Michael Cos. had previously held the assignment.

Southgate at Washington sits on a nearly 50-acre parcel off the Capital Beltway, with buildings carrying addresses on Martin Luther King Jr. Hwy. and Boston Way. The park features seven structures, five of which have a total of approximately 75,000 sf of space available for lease at rates ranging from $7.25 for warehouse products to $9.25 per sf for office and flex outfits, Transwestern senior vice president Mike Royce tells GlobeSt.com. Royce and fellow senior vice president Jim Darby are heading up the leasing team. The remaining two buildings are presently fully occupied.