Washington Business Park 5200 Philadelphia Way 52,110 SF Flex Building Lanham, MD 20706 For Sale

5200 Philadelphia Way is a single-story, freestanding brick flex/warehouse totaling 52,110± rentable SF. The building sits on approximately 4.58 acres and offers a highly functional, fully paved site with outstanding lot-to-building coverage of approximately 25%, making it uniquely versatile for a wide range of logistics, warehousing, manufacturing, government contractor, and flex office uses. The site has ample parking, with 206 surface spaces.
The asset presents a rare owner-user opportunity in a submarket with limited Heavy Industrial (IH) zoning availability. With the building to be delivered 96% vacant, and 100% vacant by Q2 2027, a qualified buyer has the ability to immediately occupy a significant portion of the building while benefiting from in-place income from a short-term tenant occupying an end-cap suite of 5,000± SF.
The property and lot size allow for exterior outside storage permitted by right in the Industrial Heavy (IH) zoning. The rear of the property backs up to a storm water management pond, allowing for natural security. Further, the property could be enhanced with a fence for additional security. The parking lot has been well maintained. In 2023, the building underwent a complete roof replacement with an EPDM with ballast roofing system under warranty through December 15, 2043. This new roof provides a new owner with 17+ years of remaining roof warranty. This substantially reduces near-term capital expenditure risk.
Currently, 5200 Philadelphia Way is built out with approximately 90% office and 10% warehouse. However, the property can be retrofitted to accommodate more warehouse intensive users. Additionally, it can easily be demised for up to five tenants, if an owner wants to occupy a portion and lease out the remainder of the building. Multiple utility meters, restrooms and dock locations make demising more feasible in a cost-effective way. Furthermore, a short-term tenant presently occupies a 5,000± SF end-cap suite for $17.00 per SF NNN, providing interim income while the balance of the building is available for owner-user occupancy. The property is expected to be delivered substantially vacant at closing, creating an exceptional opportunity for an end-user to acquire a move-in ready facility at a superior location.
While this Washington Business Park portfolio has traded a few times, most recently in 2008, this property has never been offered for sale on an individual basis.