NGKF Capital Markets today announced the sale of 190 Admiral Cochrane Drive, a single story, 71,827-square-foot premier asset, located in Westwoods Business Park in Annapolis, Maryland. Executive Managing Director, Cris Abramson, Senior Managing Director, Brian Kruger, and Director, Nicholas Signor of NGKF Capital Markets in Baltimore facilitated the sale.
190 Admiral Cochrane Drive is over 92 percent occupied with a diversified tenant base. Annapolis Micro Systems, the building’s largest tenant, is headquartered onsite and has maintained a presence in the building for 27 years. IRS and Bay Country Learning Center share the remainder of the building. The long term tenancy combined with annual rent escalations will provide a high quality, income generating asset for the buyer.
“The institutional quality and maintenance coupled with the well-landscaped campus setting make this a high-quality asset As Maryland’s state capital, Annapolis has multiple economic drivers, including the United States Navy, Naval Academy and Maryland State Government,” said Cris Abramson, “Surrounding office space is sought after by Federal and State agencies, as well as Maryland’s top employer – Fort George G. Meade, the home of the country’s cybersecurity headquarters of the NSA and Cyber Command.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
