Transaction represents third sale by Edge Capital Markets Group during last 90 days

Edge, a full-service commercial real estate firm with offices in Washington D.C., Virginia, Maryland and Pennsylvania, has brokered the sale of 4420 Lottsford Vista Road, a 37,000 square foot flex/warehouse building situated within the Lanham section of Prince George’s County, Maryland for $4.8 million. The single-story, multi-tenanted building was 100% leased and occupied at the time of the transaction. Edge’s Capital Markets team, led by Joe Friedman, Partner and Will Kostrzewsky, Associate, represented the seller, an institutional equity advisor, and procured the buyer, a Virginia-based 1031 Exchange investor in this transaction.

Constructed in 1989 and situated on a 2.88 acre site within the Washington Business Park, the asset is leased by EMCOR Services, Crockett Facilities Services and HandCraft Services. The flex/warehouse building features 18-foot ceiling heights, three dock-high doors, two ramp drive-in doors and a free, surface parking ratio of 3.50 per 1,000.

It is positioned on the west side of Prince George’s County near the intersection of US Route 50 and Martin Luther King, Jr. Highway (MD Route 704). The building is located six miles from Interstate 495, eight miles from MD Route 295, 13 miles from Washington, D.C. and less than 20 miles from Ronald Reagan Washington National Airport. It is also within walking distance to Vista Gardens Marketplace featuring a diverse range of restaurants and retail shopping options.

“The buyer acquired a stabilized building perfectly positioned to weather the current storm as it was occupied by three companies engaged in the medical and commercial building services industries deemed essential businesses during the state-wide shutdown,” explained Joe Friedman, Partner of Capital Markets at Edge. “Both industry sectors service an expanding population within the Baltimore-Washington corridor featuring dense commercial and residential development and an active new construction pipeline. Further, well-located flex-warehouse assets offer both economical office space and ample distribution and storage capacity that will continue to be in high demand in 2020 and beyond.”

This represents the third 100% cash 1031 investment sale transaction completed by the Edge Capital Markets platform within the past 90 days with a cumulative volume exceeding $20 million. Earlier sales were completed for a 93,000 square foot commercial office building in Rockville and a 30,700 square foot warehouse/retail building in Silver Spring.

“Despite the numerous challenges imposed during the COVID-19 pandemic, our team demonstrated extreme flexibility and resourcefulness in our ability to consummate three separate sale transactions to the benefit of both the buyers and sellers,” added Friedman. “Each 1031 sale was completed on a 100% cash basis with no financing required, which is also a testament to the strong volume of capital and motivated group of buyers that continue to seek opportunities in the region.”

Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the Washington, D.C., Maryland, Northern Virginia, and Pennsylvania marketplaces. Founded in 2007, the company currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space. Visit www.edgecre.com.