Advance Realty Group Closes Over 19,000 Square Feet of Deals
Tenant Demand in Prince George’s County Leads to Over 100,000 Square Feet in Net Absorption During the Last Year
Advance Realty Group, a leading Northeast US owner and developer of Class A office properties, today announced that it has secured three separate leases, totaling 19,003 square feet, at its Metro East Business Campus in Landover, Maryland. These new transactions bring the Campus’ net absorption during the last year to over 100,000 square feet.
Metro East Business Campus’ newest tenants include the United States Postal Service Administrative Law Offices with a 10,450-square-foot lease at 8200 Corporate Drive; York Telecom Corporation with a 4,400-square-foot lease at 8400 Corporate Drive; and Total Engineering, Inc. with a 4,153-square-foot lease at 8240 Professional Place.
“These three new Metro East Business Campus leases are great examples of the growing interest in having a presence in Maryland’s Prince George’s County,” said David Fisher, senior vice president and regional managing director for Advance’s Washington, D.C. region. “Over the past year, we’ve signed over 105,000 square feet of new lease transactions, including Giant of Maryland for a 53,556-square-foot lease and Epilepsy Foundation for a 32,647-square-foot lease, both at 8301 Professional Place. These are all great examples of the tenants Advance Realty Group has attracted to the suburban D.C. market since it entered the marketplace in 1998.”
Fisher continued, “Since 1998, we’ve grown our suburban Maryland and Northern Virginia portfolio to over 1.5 million square feet by creating world-class business environments through substantial capital investments and long-term building ownership. The company also takes great pride in its exceptional reputation for superior on-site management.”
Instrumental in the three new lease transactions for Advance Realty Group were Scheer Partners and the following brokerage firms:
United State Postal Service – John Thomas of The Staubach Company represented the United State Postal Service.
York Telecom Corporation – Jean Wirsching of Cushman & Wakefield represented the York Telecom Corporation.
Total Engineering, Inc. – Niel Beggy and Edward Baca-Asher of Cushman & Wakefield represented Total Engineering, Inc.
Metro East Business Campus consists of nine buildings in a campus setting with excellent amenities and plenty of parking. The campus is within walking distance of the New Carrollton train station, which is serviced by Metrorail, Amtrak and MARC, and is in close proximity to Route 50 and the Capital Beltway (I-495). Currently, 40,000 square feet of space is available in Advance Realty Group’s Metro East Business Campus.
About Advance Realty Group
Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With 5.5 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.
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 marketplace in 1998. For more information, contact David Fisher at Advance Realty Group at (301) 429-1170 or visit www.advancerealtygroup.com.