Fully Leased, Class A Office Showcased by COVID-Friendly Technology
February 08, 2021
WASHINGTON – Transwestern Real Estate Services (TRS) announces it has facilitated the sale of Bowie Corporate Center, a 125,969-square-foot, Class A office building at 4321 Collington Road in Bowie, Maryland. Transwestern’s Mid-Atlantic Capital Markets Group
completed the transaction during the height of the COVID-19 health crisis by utilizing videography and digital media strategies to market the property. The sale represents the highest price paid in Prince George’s County for a suburban office building in the past 10 years.
“The pandemic created challenges with showcasing the property, but our team was able to restructure the marketing experience by providing virtual tours that allowed investors to visit the project from their computer rather than in person,” said Gerry Trainor, Transwestern Executive Managing Director. “The robust investor interest in Bowie Corporate Center during a period of uncertainty demonstrates the asset’s attractiveness for steady cash flow from a high-credit, long-term anchor tenant.”
Situated across from the Bowie Towne Center, the property’s location provides easy access to a rich amenity base and commuting options from Route 50 including Washington, D.C., Annapolis and Baltimore. The asset is 100% leased with the anchor tenant, Inovalon, occupying 95% of the building long term. Inovalon is a leader in the healthcare data analytics industry and headquartered at the property.
The investment provides stable cash flow with a strong creditworthy anchor tenant, as well as a significant risk-adjusted yield premium compared to other locations in surrounding Washington, D.C., Bethesda, Maryland and Arlington, Virginia.
The freestanding, five-story building offers an abundance of natural light, high ceilings and was originally built LEED Gold. It has been well maintained and fully leased since its delivery.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment sales services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. During the past 24 months, the group’s transactions have exceeded $1.7 billion in aggregate value. The team’s success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities.
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.
Media Contact:
Hannah Krobock
301.896.9135
hannah.krobock@transwestern.com
twmediarelations@transwestern.com
