DSC Partners JV Wraps $86M Suburban DC Buy

June 4, 2024

Investment Industrial Mid-Atlantic News More Office Washington D.C.

This portfolio includes industrial, office and flex properties.

The property at 4260 Forbes Blvd. is part of the Beco Park at Forbes Center. *Image courtesy of DSC Partners*

DSC Partners, in a joint venture with Harbert Management Corp., has acquired Forbes Center, a 785,000-square-foot portfolio in Lanham, Md. The 17-building collection includes industrial, flex and office assets that sold for a total of $86.4 million.

The tenant mix at Forbes Center includes local distribution, government contractors and medical providers, as well as local and national service providers.

Going forward, Transwestern will provide property management services. In addition, the KLNB team of Principals Robert Pugh and Ken Fellows, alongside Transaction Manager Keiry Martinez and Office & Industrial Specialist Aaron Carroll, will handle leasing.

A flex, office and industrial portfolio near Washington, D.C.

The largest property in the Forbes Center portfolio is Beco Park, a campus featuring flex, office and industrial buildings totaling some 650,000 square feet. Its previous owner was BECO Management, according to CommercialEdge information.

The buildings came online between 1983 and 2000 and feature floorplates ranging between 22,642 and 54,692 square feet. The complex has controlled access, a fitness center, a conference center and ample parking. Its tenant roster includes Applied Industrial Technologies, Bota Consulting Engineers, Maryland Community Connection, Lladner Business Solutions and Mental Matters Clinical Services, among others.

READ ALSO: Getting Into the Heads of Tenants

Beco Park at Forbes Center is just north of U.S. Route 50 and has access to Interstate 495. Downtown Washington, D.C., is less than 13 miles away.

Since its inception in 2017, DSC Partners has acquired and developed more than $600 million worth of commercial real estate properties in the Mid-Atlantic area, in markets located in Washington D.C., Maryland and Virginia.

One of DSC’s developments is Deepwater Industrial Park, a three-building campus encompassing nearly 1.5 million square feet in Richmond, Va. The firm broke ground on the 110-acre project in 2021, in partnership with Hourigan, and completed it last year.