Transwestern Selling Property Near New Carrollton Metro Station on Behalf of Wells Fargo
Transwestern today announces it has been retained by Wells Fargo to sell Metro Plex, a portfolio of two buildings totaling 293,108 square feet and a 3.65-acre development pad in Landover, Maryland. Mark Glagola, Senior Managing Director of Transwestern’s Mid-Atlantic Capital Markets Group, is the lead listing agent for the property.
“This is an excellent value-add investment in Washington, D.C., near a Metro station with significant development potential for a mixed-use product,” said Glagola. “Properties near Metro stations have outperformed others in the market, and the growing supply of housing and retail amenities surrounding the New Carrollton Metro Station is transforming the area.”
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. The property is proximate to the New Carrollton Metro Station, which offers service for the Metro’s Orange Line, 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.
The New Carrollton Transit District Development Plan, put in place by the Prince George’s County Planning Department, will soon begin to transform the area surrounding the New Carrollton Metro Station into a transit- and pedestrian-oriented community. The first phase of the plan will break ground in June 2017 with Urban Atlantic’s mixed-use project of 260 residential units and 13,000 square feet of retail. The project will eventually include 1.3 million square feet of residential space, 1.1 million square feet of office space, 150,000 square feet of retail, and 150,000 square feet of hotel. Additionally, the property is located near the potential site of the new 3 million-square-foot FBI headquarters.
ABOUT TRANSWESTERN
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, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, 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 34 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.
