5900 Princess Garden Pky
Lanham, MD 20706
Office Property For Sale

Property tours are available by appointment ONLY. Please contact Jay Wellschlager to schedule at jay.wellschlager@am.jll.com or 443-451-2600. Investment Highlights: Landmark building at Washington D.C Beltway Interchange currently zoned C-M (Commercial Miscellaneous) Along well traveled retail corridor (62,440 cars per day). Only 30 minutes to Baltimore Washington International Airport (BWI), 50 minutes to Dulles International Airport (IAD), and less than 30 minutes to Reagan National Airport (DCA) Strong leasing momentum, with over 40,000 square feet leased since 2015 (76% of existing rent roll) and a weighted average lease term of 4.18 years New ground floor lease signed 11/1/17 increasing NOI to $690,637 effective Jan. 1, 2018, see vault Located one mile from the New Carrolton metro station, which will be the eastern terminus for the Purple Line now under construction. Upon completion (projected in 2022), it will run from Bethesda to New Carrolton, with stops in Silver Spring and College Park (University of Maryland) among several others. Potential to add retail in the first floor vacancy, which has received interest from national retailers Over $1.7M spent on recent lobby, b Potential to add retail in the first floor vacancy, which has received interest from national retailers Over $1.7M spent on recent lobby, bathroom, elevator, and parking lot renovations. Investment Overview: Lanham Centre (the "Property") is a ñ73.76% leased 78,138 SF, eight-story office building at a primary interchange of the Washington D.C. Beltway (I-495) located at 5900 Princess Garden Parkway in Lanham, MD 20706. The Property comes to the market with extensive recent and ongoing capital projects (totaling approximately $2.1 million) inclusive of newly renovated bathrooms, lobbies, elevators, and the parking lot. The improvements underway have led to significant positive momentum in the building's leasing velocity, with over 40,000 square feet absorbed in the past two years (76 percent of current rent roll). This is a unique, value-add, recently renovated office property, with an irreplaceable interchange-adjacent location and close proximity to mass transportation. Lanham Centre offers the ability to capture additional value through lease up, as demonstrated through its strong recent positive leasing momentum, and through the strong future growth of its direct submarket