Edge, a full-service commercial real estate firm with offices in Washington D.C., Virginia, Maryland and Pennsylvania, has been selected to provide full-service property management and engineering services to 4420 Lottsford Vista Road, a 36,710 square foot flex/warehouse building situated within the Washington Business Park in Lanham, Maryland. Christina Martin, Director of Property Management will oversee the property management team and Shaun Comer, Director of Engineering will direct the facilities and engineering team for both requirements.
The asset was recently acquired for $4.8 million. The Edge Capital Markets team, led by Joe Friedman, Partner and Will Kostrzewsky, Associate, represented the seller, a real estate private equity advisor and procured the buyer, a Virginia-based 1031 Exchange investor in this transaction.
Constructed in 1989, the single-story building is currently 100% leased to three tenants. It features three dock-high doors, two ramp drive-in doors, and a free surface parking lot that can accommodate approximately 15 vehicles. Positioned on the west side of Prince George’s County, it is located two miles from MD Route 564; four miles from US Route 50; six miles from Interstate 495 and eight miles from MD Route 295.
“Winning this asset management contract, following the successful sale of 4420 Lottsford Vista Road by our Capital Markets group, demonstrates the full-service complement of services we provide to developers, investors and owners of commercial real estate,” explained Christina Martin, Director of Property Management for Edge Property Services Group. “Our team became extremely familiar with this property over the past several months, and we are confident in our ability to build long-term value with the implement of creative asset management processes.”
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.