Prince George's County Leasing Market is Heating Up

GREENBELT, Md., September 25, 2019 (Newswire.com) - ​​​Morning Calm Management (“Morning Calm”) reports leasing more than 240,000 square feet since 2018 at its properties located in Prince George’s County. 

Morning Calm owns Capital Office Park, a six-building campus with over 800,000 square feet of Class A office space in Greenbelt, Md., and Carrollton Corporate Center, a two-building complex with nearly 300,000 square feet of Class A office space in Landover, Md. Both assets are transit-oriented, with easy access to the major roadways, Metro and local/regional trains, and replete with new amenities and indoor and outdoor gathering spaces. Morning Calm recently signed a lease with Stanley Martin at Capital Office Park. Stanley Martin builds new condos, townhomes and single-family homes in the mid-Atlantic. Founded in 1966, Stanley Martin has been building homes and neighborhoods with quality and craftsmanship for more than 50 years.

“Stanley Martin remains committed to building world-class homes and communities in Maryland and Prince George’s County is the heart of our operations,” says Lewis Birnbaum, Stanley Martin’s Maryland President. “We chose Capital Office Park because of our long-term commitment to Prince George’s County, the accessibility of the campus to major nodes of transportation, and the incredible amenities we wanted to provide our valued teammates. The combination of the on-site dining, conference centers, and fitness amenities combined with the stellar upkeep of the grounds and buildings makes the Capital Office Park the best work environment we can provide our employees in the county and area.”

Beyond easy access to transportation and the focus on providing superlative amenities for the benefit of the tenants, Morning Calm’s emphasis on expanding and strengthening its relationships with the brokerage community has contributed to the leasing success.

“The brokerage community has supported our efforts from Day One and for that, we are truly appreciative,” says Bryan Zenchyk, a Managing Director at Morning Calm. “Our concerted effort to provide a high-quality office environment for our tenants and to make the leasing process seamless for all involved – both for the tenants and their brokerage representatives – has paid significant dividends. There is no better compliment for us than a referral from an existing tenant or a broker.”

Morning Calm first entered Prince George’s County in 2017, acquiring Capital Office Park, which had a mid-50% occupancy rate at purchase. Today, the property’s occupancy rate has surpassed 70% with more leases being signed every day.

​Carrollton Corporate Center, located by the New Carrollton Metro Station, has experienced similar success, with 20 new leases totaling 35,000 square feet being signed since Morning Calm acquired the property in 2018.

About Morning Calm

Morning Calm is a vertically integrated real estate investment and management firm with a focus on special situation investing. Through its affiliates, the firm owns and manages more than 5 million square feet of commercial real estate throughout the United States, including 1.5 million square feet in the DC Metro and Baltimore markets.

Media Contact:
Maggie Dove
mdove@morning-calm.com
561-383-2415

Source: Morning Calm Management