Dec
14
Morning Calm Closes Suburban DC Office Value-Add Deal
ByThe nearly 300,000-square-foot park is less than half occupied, but its immediate environs look to be on the verge of a boom.
Morning Calm Management has acquired Metro Plex I and II in Landover, Md., for $16.5 million, the buyer announced Tuesday. The 293,500-square-foot Class B property also includes a 3.7-acre pad site approved for 200,000 square feet of future development.
The park, which is adjacent to New Carrollton station on the Washington, D.C., Metro, is about only 45 percent leased. The buyer, of West Palm Beach, Fla., describes itself as focused on “special situation investing.”…
