PRESS RELEASE


ATAPCO PROPERTIES SELLS 156,393 SF LARGO, MARYLAND, FLEX PORTFOLIO FOR $16.5 MILLION

February 09, 2017

ATAPCO PROPERTIES SELLS 156,393 SF LARGO, MARYLAND, FLEX PORTFOLIO FOR $16.5 MILLION
Transwestern Brokers Sale After Increasing Occupancy by 76 Percent

​Largo, MD. – Transwestern today announces it represented Atapco Properties in the disposition of Inglewood Business Center, two flex properties totaling 156,393 square feet at 1220 and 1221 Caraway Court in Largo, Maryland. Caraway Court Owner LLC, an investment group led by Rosenthal Properties, purchased the portfolio for $16.5 million. Transwestern’s Mid-Atlantic Capital Markets Group, led by Executive Managing Director Gerry Trainor and Senior Managing Director Mark Glagola, managed the transaction for Atapco.

“Inglewood Business Center presented a compelling investment opportunity with market-changing developments at nearby properties including the new Prince George’s Hospital Center,” said Glagola. “The leasing team has done a tremendous job in stabilizing this property with solid tenants, but there is still upside potential through leasing the remaining vacancy and market rent growth.”

Inglewood is adjacent to one of the sites that is strongly favored as the new FBI headquarters and part of a business park that is soon to be home to Prince George’s County executive headquarters and Prince George’s Regional Medical Center. It’s less than a half-mile from the Capital Beltway and a five-minute drive from the Largo Town Center Metro Station.

Transwestern brokered the disposition of Inglewood to Atapco in 2012, when it was 80 percent vacant. Transwestern Senior Vice President Brian Watts, Vice President Jeff Groves and Senior Associate Jason Sullivan provide leasing services for the portfolio, which is now 96 percent leased to a strong mix of tenants including the U.S. Department of Health and Human Services and the National Oceanic and Atmospheric Administration.
 
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