443-510-0632
1750 Forest Dr, Annapolis, MD for Sale
Medical - FOR SALE
1/7
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1750 Forest Dr
Annapolis, MD 21401


HIGHLIGHTS

  • 120,750 RSF Trophy Office | Class A landmark asset with transformative $20M+ redevelopment.
  • Strong Tenant Mix | 10 tenants including 3 U.S. government agencies and 3 medical users.
  • Stabilized Cash Flow | 76% leased with 6.9-year WALT, NOI withheld for qualified buyers.
  • Value-Add Upside | 28,578 RSF of leasable vacancy in a submarket with just 7.6% vacancy.
  • Premium Amenities | WiFi café, food trucks, commuter showers, bike-friendly property, digital lobby kiosk.
  • Prime Annapolis Location | Direct Forest Drive frontage with walkable access to top retail, dining, and services.

OVERVIEW

1750 Forest Drive represents a best-in-class office repositioning. Scan the QR code on the Teaser Flyer to be directed to the listing site with secure deal room access. The signature landmark asset is strategically located along Annapolis’s gateway on Aris T. Allen Boulevard—one of two primary arterial entrances serving the capital city. This 120,750 RSF trophy office exemplifies institutional-quality value creation through transformative redevelopment and sophisticated asset management. Forest Drive Holdings LLC, a partnership between Manekin (developer/ asset manager) and Blue Vista Capital Management (equity partner), executed a comprehensive transformation from 2017-2019, fundamentally repositioning the former Maryland Automobile Insurance Fund headquarters from single tenant government facility into a technology-forward, amenity-rich Class A destination. The architectural centerpiece—a dramatic three-story atrium lobby featuring 22-foot interior skylights and expansive glazing—creates an impressive first impression attracting premium tenants regionwide. Operating at 76% occupancy in a submarket with stable 7.6% vacancy rates, 1750 Forest commands premium rents through superior amenities and prime location. Multiple tenants relocated from competing Annapolis properties specifically for access to the building’s differentiated offering, including South River Mortgage (from 1 Park Place), DFS (from downtown Annapolis), and RedZone (from Solomons Island Road), validating competitive positioning and pricing power. R2P even chose this asset instead of 810 Bestgate Road, a building delivered at the same time by St Johns Properties. With a 6.29-year weighted average lease term as of January 2026, the property provides exceptional cash flow stability while offering meaningful upside through lease-up of remaining 24% vacancy. The diversified tenant roster spans government (22% of building), medical (17% of building), private sector users, and federal agencies (IRS, EPA, National Park Service), creating multiple demand drivers and reducing concentration risk. 1750 Forest Drive presents a compelling acquisition opportunity for sophisticated investors seeking a stabilized Class A asset with embedded value-add potential in a supply-constrained market. The combination of stable cash flows, lease-up opportunity, and below-replacement-cost basis creates an attractive risk-adjusted return profile for both owner-occupants and institutional investors in the coveted Annapolis submarket.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1750 Forest

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

420

LAND DETAILS

LAND ACRES

8.19 AC

LAND SF

356,756 SF

ZONING

PM 2

APN/PARCEL ID

06-000-07674002

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443-510-0632

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