5900 Princess Garden Pky
Lanham, MD 20706

Lanham Centre is an eight-story office building situated at a primary interchange of the Washington, DC Beltway (I-495). The property benefits from an ongoing CapEx campaign of $2.1M, which includes renovated bathrooms, lobbies, elevators, parking lot, and roof. The improvements have led to significant positive leasing momentum, with over 30,000 SF absorbed in the past 12 months (44% of current rent roll). Lanham Centre offers the potential to gain value through leasing-up available space, and through the strong future growth as a result of the development of the Purple Line, an all-new 16-mile light rail to open in 202). The New Carrollton Metro stop, located one mile from the subject, is the busiest transit point in Prince George’s County, and the last stop on Metro’s Orange Line. It is also a stop for MARC and Amtrak trains, as well as local and regional bus lines. The new Purple Line will connect Prince George and Montgomery counties. The 71-acre Purple Line site is expected to include 1.3M SF of residential, 1.1M SF of office, 150K SF of retail and a hotel. This significant investment will make a lasting impact on New Carrollton and the surrounding neighborhoods.