LANDOVER, MD--An LLC led by Polinger Development Co. has scooped up a value-add opportunity directly across the street from the New Carrollton Rail Station.
Metro East is a 177,002-square foot, three-building office portfolio located at 8200-8400 Corporate Dr. The portfolio was 82% leased at the time of the sale and it traded for $14.6 million.
Mark Glagola, managing director in Transwestern's Mid-Atlantic Capital Markets Group, brokered the transaction on behalf of a major life insurance company.
“This property presented an excellent value-add opportunity in a coveted location,” Glagola said in a prepared location.
LANDOVER, MD--An LLC led by Polinger Development Co. has scooped up a value-add opportunity directly across the street from the New Carrollton Rail Station.
Metro East is a 177,002-square foot, three-building office portfolio located at 8200-8400 Corporate Dr. The portfolio was 82% leased at the time of the sale and it traded for $14.6 million.
Mark Glagola, managing director in Transwestern's Mid-Atlantic Capital Markets Group, brokered the transaction on behalf of a major life insurance company.
“This property presented an excellent value-add opportunity in a coveted location,” Glagola said in a prepared location.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
