Site Sits Directly Across Amtrack Station, Adjacent to Metro
Lanham, Maryland- July, 1st 2015- Cohen Equities has acquired 7900 Harkins Road, a 324,000 square foot class-A office building located in the heart of suburban Maryland in the Lanham/Landover submarket with excellent proximity and accessibility to Washington, D.C. metro area. The building was acquired vacant. Transwestern has been retained by Cohen Equities to provide leasing and property management services at the property.
Completed in 2002, 7900 Harkins Road sits directly beside New Carrolton Station, which is a joint Washington Metro, MARC and Amtrak station servicing 9,000 riders daily. The building is also easily accessible via I-95 and I-495, two of the main thoroughfares in and around the metro area. A multi-phased, mixed use, transit-oriented development project is underway directly behind 7900 Harkins Road, which is slated to contain 556 multifamily units and 61,000 square feet of retail. The property is located in a Federal HUB Zone with a proactive local municipality intent on transforming the area surrounding New Carrolton Metro Station into a 2.7 million square foot first class live-work play area. This prime location inspired Cohen Equities to make a significant investment in this property and attract strong tenants.
The Property is one of two acquisitions in the area, the second being Prince George’s Metro Center IV at University Town Center, a 174,000-square-foot building located near the Prince George’s Plaza Metro Station. Prince George’s Metro Center IV is 60 percent leased to the Centers for Disease Control and Prevention’s National Center for Health Statistics.
“We are very excited to have accomplished such a successful entry into the D.C. area. We believe deeply in the long-term fundamentals there and intend to grow our local portfolio significantly as an active participant in the rejuvenation of the D.C. submarkets,” said Meir Cohen, Chairman and CEO of Cohen Equities. “These two assets in particular represent a unique opportunity to create progressive office environments for users with modern, transit-oriented space needs. We’re looking forward to working with those users to create truly differentiated workplace environments that will help them succeed in attracting and retaining top talent.”
About Cohen Equities
Cohen Equities is a national real estate investment firm that pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. The company has successfully invested in and improved more than 9 million square feet of real estate across the United States. Led by Meir Cohen, a real estate veteran with more than 30 years of experience, Cohen Equities creates significant value through active management, leasing and repositioning activities. For more about Cohen Equities, please visit cohenequities.com.