October 21, 2022 – Chris King and Ryan O’Rourke of Horvath & Tremblay have successfully completed the sale of The Keystone Business Center in Upper Marlboro, MD. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,000,000.
The Keystone Business Center Condominium (KBC) is a 42,578 square foot flex building on a 3.09-acre parcel of land at 1001 Prince George’s Boulevard, Upper Marlboro, MD. The building is divided into 15 condo units. The subject Property is comprised of six condo units totaling approximately 17,012 square feet. Units 1 and 2 are built-out and utilized as high-end executive office space with a nicely appointed kitchen area, a conference room and numerous individual private offices. Units 4, 5, 6 and 7 are currently utilized as warehouse storage space and are contiguous. The Condos are 100% leased to South River Restoration (dba RESCON Restoration and Construction) and have 5+ years remaining on their triple net lease with two (2) 5-year renewal options. The Property is well-located in Upper Marlboro, Prince George’s County, Maryland. Prince George’s County borders the eastern portion of Washington DC and is the 2nd most populous county in Maryland. Due to its proximity to the Washington DC, the county accommodates many United States government facilities, such as Joint Base Andrews, US Census Bureau, Internal Revenue Service (IRS), the NASA Goddard Space Flight Center, Smithsonian Institution, National Oceanic and Atmospheric Administration (NOAA), and the National Archives. The property is near several major highways, including Route 301 (Crain Highway) connecting southern Maryland to the Baltimore area and the Capital Beltway (I-495/I-95). 1001 Prince George’s Boulevard is part of the Collington distribution hub, just off US-301 and is approximately 12 miles from Washington D.C. The park is home to many top companies and distributors, including Amazon, Target, FedEx, La-Z- Boy, Corporate Communications Group, Daycon, Buck Distributing, Nordstrom, and H-Mart.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.