Advance Realty Group Acquires 4500 Forbes Blvd. In Lanham, MD
David Fisher, senior vice president and regional managing director for the Washington, D.C. region, Advance Realty Group, announced the Company’s acquisition of 4500 Forbes Boulevard in Lanham, Maryland. This is Advance’s second acquisition in the D.C. market in 2004. The Company acquired Avion III and IV, totaling 142,000-square feet located in Chantilly, Virginia earlier this year.
Fisher commented, “We are pleased to announce another significant acquisition in the metro D.C. area. 4500 Forbes Blvd. is a quality office building and perfectly complements our existing portfolio in the D.C. region.”
4500 Forbes Blvd. is a four-story, 65,000-square foot, Class A office building. Current tenants at the facility include QSS Group, Inc. and Systems Integration Group, Inc. The facility is in close proximity to Route 50 and the Capital Beltway (I-495).
Jim Meisel and Dek Potts of Advantis GVA represented the seller, Moore and Associates, in this transaction.
In the suburban Washington, D.C. marketplace, Advance Realty Group currently owns in excess of 1.5 million square feet of space. The company has acquired in excess of $250 million of properties since it entered the market in 1998.
Having recently celebrated 25 years in business, Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With five million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.