Edge Capital Markets recently brokered the sale of 20 Southlawn Court, a single-story building containing approximately 48,300 square feet of infill industrial, small-bay space located in Rockville, Montgomery County, Maryland. The property was 100% leased and occupied at the time of sale. Joe Friedman, Partner, Edge Capital Markets and Joshua Norwitz, Senior Associate, Edge Capital Markets represented the seller, and also procured the buyer, an affiliate of Marcus Partners in this transaction.
Constructed in 2001, the building sits on 4.34 acres of highly desirable I-4 zoning, is equipped with 24-foot ceiling heights and seven dock-high loading doors. 20 Southlawn Court is situated immediately off the amenity-rich Rockville Pike, as well as Interstates 270 and 370, which provide immediate access to a dense population of over one million residents in Montgomery County and the affluent northwest suburbs of Washington, D.C.
“The new owner acquired an excellently-maintained income-producing asset in a high-performing infill industrial submarket of Montgomery,” stated Joe Friedman of Edge. “Vacancy rates continue to remain at historically-low levels and have driven strong rental rate growth, both of which contributed to immediate interest in the property.”
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York City and Metro Washington, D.C. The firm focuses on strategic and opportunistic investment strategies across multifamily, industrial, life science and other property types where it can create value and maximize risk-adjusted returns. Marcus Partners and its affiliates owns, operates or is developing more than six million square feet of real estate and more than 1,500 multifamily units. For more information, please visit www.marcuspartners.com.
Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the Washington, D.C., Maryland, Northern Virginia, and Pennsylvania marketplaces. For additional information, visit www.edgecre.com.
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