J1B Properties Acquires 138,000 SF Office In Landover, MD For $25M

On January 10, 2022, a 138,000 square foot office property located at 8301 Professional Place in Landover, MD was sold for a total price of $25,000,000. The property sits on a 12-acre lot and was purchased by J1B Properties from the seller, Persimmon Capital Partners. The sale price equates to an average price per square foot of $181, indicating a significant investment in the office asset.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $25,000,000
• Address: 8301 Professional Place, Landover, MD
• Market: Landover, MD
• Acres: 12

Representing the buyer, J1B Properties, in this transaction were brokers Joe Friedman, Wilson Purcell, and Joshua Norwitz from Edge Capital Markets. These brokers played a crucial role in successfully completing the deal, bringing their expertise and negotiation skills to the table. The involvement of these experienced professionals likely contributed to the smooth execution of the transaction.