December 13, 2017
Rockville, MD – Transwestern today announces it represented an undisclosed seller in the disposition of Metro Plex, a portfolio of two office buildings totaling 293,483 square feet and a 3.65-acre development pad in Landover, Maryland. Morning Calm Management purchased the portfolio for an undisclosed price. Transwestern’s Mid-Atlantic Capital Markets Group, including Mark Glagola, Gerry Trainor, Tom Hilley and Tina Wakley, represented the seller in the transaction.
“Morning Calm has made an exciting and strategic acquisition with the purchase of the Metro Plex portfolio,” said Glagola. “The significant change in the New Carrollton submarket will be beneficial for both Morning Calm and the surrounding area.”
Morning Calm is planning a multimillion-dollar renovation for the property. Land adjacent to the portfolio is set to be redeveloped as part of Prince George’s County’s New Carrollton Transit District Development Plan, which includes 1.3 million square feet of residential, 1.1 million square feet of office, 150,000 square feet of retail, 150,000 square feet of hotel, a parking garage for office and residential use, and 100 to 300 parking spaces for Metrorail commuters. Construction began in June 2017.
The portfolio is walking distance to the New Carrollton Metro Station, AMTRAK, Maryland Area Regional Commuter (MARC) trains and local buses. Metro’s forthcoming Purple Line will connect the New Carrollton Metro Station to Bethesda in Montgomery County. Located at 8201 – 8401 Corporate Drive, Metro Plex is highly visible at one of the nation’s busiest interchanges: Route 50 and the Capital Beltway, which includes Interstates 95 and 495.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.