MacKenzie Wins Listing for Sale of “Headquarters-Quality” Office Building in Bowie, MD
Five-story building at 4201 Mitchellville Road contains nearly 50,000 square feet of office space.
MacKenzie Commercial Real Estate Services, LLC has been awarded the exclusive sales listing for 4201 Mitchellville Road, a five-story building in Bowie, Maryland containing nearly 50,000 square feet of commercial office space. Formerly serving as the corporate headquarters for Washington Saving Bank, the asset is currently 50% leased and occupied. Owen Rouse, Senior Vice President, Investment Sales and David McClatchy, Senior Vice President, Principal with MacKenzie Commercial Real Estate Services are handling the requirement on behalf of the brokerage firm.
Delivered in 1997 and featuring roadside visibility from MD Route 301, the building is surrounded by a free surface parking lot offering approximately 140 spaces. Nearly 50,000 people reside within a five-mile radius of the building, including nearly 40,000 households with an average household income of more than $180,000. More than 90,000 people also work within five miles of the building and 65,000 vehicles pass the site on a daily basis from MD Route 301.
“This represents a rare opportunity to acquire a highly-visible corporate headquarters-quality asset in the heart of the Baltimore-Washington, D.C. corridor at significantly below replacement cost,” stated Owen Rouse of MacKenzie Commercial Real Estate Services. “Several entire floors, offering more than 11,000 square feet of space each, can be easily adaptable to satisfy the needs of a professional services, medical or healthcare use. The brick and glass exterior is architecturally pleasing and will provide an upscale image to any corporate use.”
A number of retail centers with grocery store, big-box and restaurant tenants are located in close proximity including Bowie Town Center, Bowie Gateway Center and Collington Plaza. Representative nearby retailers are Best Buy, BJ’s Wholesale Club, Burlington, Giant Food, The Home Depot, Lowe’s, and Safeway. 4201 Mitchellville Road is positioned 15 miles from Annapolis, 20 miles from BWI Airport and Washington, D.C. and 30 miles from Baltimore.
“With remote and hybrid work arrangements subsiding, and more companies reestablishing an in-office presence to improve employee collaboration and overall work culture, 4201 Mitchellville Road offers a viable solution to secure a significant amount of space,” added MacKenzie’s David McClatchy. “We also envision interest from companies that are rethinking their downtown office presences in lieu of a location in a suburban setting that offers free parking and shorter commutes. No other building is currently available for sale in the Prince George’s County region that offers the size and visibility of this asset.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com.
