Developed two decades ago, 4550 Forbes Blvd. occupies a 2.4-acre parcel off Rte. 50 and Martin Luther King Blvd. According to Prince George's County records, the property has a current assessed value of $4 million.
At the time of the transaction, the three-story structure was 96% occupied by tenants including the Anchon Group, Diversified International Sciences Corp. and Herman Stewart Construction. Smondrowski notes that, "In the Washington Metropolitan Area, the Lanham submarket is one of the few markets that an investor can acquire a stabilized asset with an attractive return for less than replacement cost."
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