Transwestern Tapped for Disposition of 210,000 SF Property
November 04, 2020
WASHINGTON – Transwestern Real Estate Services (TRS) announces it has been engaged by the ownership of Calverton Tower to sell the property at 11785 Beltsville Drive in Beltsville, Maryland. Transwestern’s Mid-Atlantic Capital Markets team led by Gerry Trainor will handle disposition services on behalf of the owner.
The 209,500-square-foot office building is 86% leased and anchored long-term by the federal government. The General Services Administration occupies 69% of the building and recently expanded its footprint as a result of the building’s proximity to the agency’s parent and demand for its services.
“Calverton Tower provides investors a strong government-secured cash flow and opportunity to add value through leasing,” said Trainor. “This GSA regulatory agency is in high demand, and the building’s vacancies are contiguous to its 145,000-square-foot leased premises, providing a high probability of organic growth from the agency.”
Calverton Tower has received more than $34 million in base building and tenant improvements since 2018 while the GSA has improved its space with modern office finishes that encourage collaboration and teamwork. Situated near the interchange of Interstates 95 and 495/Capital Beltway, the property is proximate to several government agencies, including the FDA’s White Oak campus, National Security Agency and NASA.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.