{"id":1004277956,"date":"2018-11-08T03:31:58","date_gmt":"2018-11-08T11:31:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004277956"},"modified":"2022-12-07T13:34:18","modified_gmt":"2022-12-07T21:34:18","slug":"douglas-development-buys-12m-md-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/douglas-development-buys-12m-md-office-property\/","title":{"rendered":"Douglas Development Buys $12M MD Office Property"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004278004\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004278004\" data-attachment-id=\"1004278004\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/douglas-development-buys-12m-md-office-property\/116-defense-hwy\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.1&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS REBEL T1i&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1529513592&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;18&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"116 Defense Hwy\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;116 Defense Highway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg?w=800\" class=\"wp-image-1004278004 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/116-Defense-Hwy.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004278004\" class=\"wp-caption-text\">116 Defense Highway<\/p><\/div>\n<p>Douglas Development has acquired a Class A office building in Annapolis, Md., for $12 million. Transwestern represented the seller in the deal and provided disposition services.&nbsp;<\/p>\n<p>Located at 116 Defense Highway, the property comprises 81,931 square feet. The building is 70 percent leased, primarily to medical office tenants. The asset is within close proximity to Anne Arundel Medical Center.<\/p>\n<p>Managing Director Mark Glagola of Transwestern&#8217;s Mid-Atlantic Capital Markets Group led the team representing the seller.&nbsp;<\/p>\n<p><em>\u201cThis sale is an exciting repositioning of an older asset that has tremendous upside. Douglas Development is the perfect operator to achieve great success,\u201d<\/em> Glagola told <em>Commercial Property Executive.&nbsp;<\/em><\/p>\n<h2>Mid-Atlantic movement&nbsp;<\/h2>\n<p>Over the last year, Douglas Development has been continuously active in the Mid-Atlantic. In July, the firm&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/douglas-development-lands-53m-for-dc-office-building\/\">secured a $52.8 million floating-rate loan<\/a> to refinance and lease 1000 F St. NW, a newly constructed office property in Washington, D.C.\u2019s East End submarket. Before that, in August of 2017,&nbsp;the company purchased a two-story <a href=\"https:\/\/www.commercialsearch.com\/news\/divaris-arranges-sale-of-historic-annapolis-building\/\">mixed-use building in Annapolis, Md.<\/a>, for $2.3 million.&nbsp;<\/p>\n<p><em>Image courtesy of Transwestern&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Transwestern represented the seller in its disposition of 116 Defense Highway, an 81,931-square-foot building that was 70 percent leased at the time of sale.<\/p>\n","protected":false},"author":746,"featured_media":1004278004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21743,21783,11,21742,21747],"tags":[35578,36395,33313],"class_list":["post-1004277956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-deals","category-investment","category-midatlantic","category-latest","category-office","tag-douglas-development-corporation","tag-mark-glagola","tag-transwestern"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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