DSC Partners LLC purchased Lanham’s 17-building Forbes Center for $86,000,000, adding nearly 800,000 feet of industrial and office space to their existing 1.5 million square feet of real estate in the Washington metropolitan area.
“Forbes Center is an ideally suited addition to the portfolio DSC has built across the DMV, and particularly in Maryland,” said DSC partner and co-founder Doug Donatelli in a press statement. He was also excited about the site’s proximity and ease of travel to D.C.
The center, constructed in the late 1980s, was purchased on May 30 from Rockville’s BECO Management.
DSC co-founder Nicholas Smith expects to renovate certain buildings and sell the property off in several parcels, which he expects to take roughly five years.