DSC Pays $86M for Maryland Office-Industrial Campus
By Greg Cornfield June 4, 2024 3:15 pm
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Real estate investment firm DSC Partners, along with Harbert Management, has acquired a mixed-use work campus in suburban Maryland, roughly 13 miles east of Downtown Washington, D.C.
The buyers announced they put down $86.4 million for the 17-property Forbes Center in Lanham, Md., which includes 785,000 square feet of industrial, flex and office space. Records show Beco owned the campus asset.
Current tenants include local distributors, government contractors, local and national service providers, and medical tenants. Rob Pugh, Ken Fellows, Keiry Martinez and Aaron Carroll at KLNB will lease the properties. Transwestern will manage them.
Harbert is a privately owned alternative asset management firm formed about three decades ago to sponsor alternative asset investment funds, and had $7.8 billion in assets under management as of April 30.
Meanwhile, DSC, which is focused on acquiring value-add properties throughout the mid-Atlantic region, said it has acquired or developed more than $600 million of industrial, flex and office properties in Washington, D.C., Maryland and Virginia since it launched in 2017. The firm is run by Douglas Donatelli and Nicholas Smith,and it has a portfolio with 43 buildings and 2.4 million square feet of space.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
