Lucern Capital Partners Acquires Edmonston Road Business Center in Beltsville, Maryland

Beltsville, MD - September 21, 2026: Lucern Capital Partners, a real estate investment firm focused on value-add small-bay industrial and retail assets along the East Coast, today announced the acquisition of Edmonston Road Business Center, a 38,561-square-foot industrial and flex property at 11551-11611 Edmonston Road in Beltsville, Maryland.

The acquisition brings all 28 units of the property under a single owner for the first time. Previously structured as a condominium and divided among four separate ownership groups, Edmonston Road Business Center will now be consolidated into a single industrial asset. Lucern plans to dissolve the condominium association and manage the property in-house.

"Edmonston Road is a good example of the type of opportunity we look for," said Frank Forte, Co-Founder and Chief Investment Officer at Lucern Capital Partners. "It's a well-located property serving smaller industrial users in a market where that type of space is difficult to replicate. Bringing the entire property under one ownership gives us the ability to manage it more efficiently, invest in the asset as a whole and create value over the long term."

Located on approximately 2.32 acres, the property includes a mix of approximately 75% industrial and 25% office space, with suites ranging from approximately 700 to 3,500 square feet. The combination of small-suite offices and drive-in industrial bays serves businesses seeking flexible space within the Baltimore-Washington corridor. The property sits just outside the Capital Beltway with access to I-95, I-495, U.S. Route 1 and the Intercounty Connector (MD-200).

The acquisition comes at a time when smaller industrial spaces remain an active part of the Prince George's County market. According to the Prince George's County Economic Development Corporation, approximately 80% of industrial transactions in the county involve users seeking less than 15,000 square feet. New flex supply is also limited. Colliers reported no flex product under construction in the county as of the first quarter of 2026, with developers continuing to focus primarily on larger-format distribution facilities.

Lucern completed the acquisition as a 1031 exchange for a longtime investor, allowing the investor to redeploy capital into the property while deferring capital gains. As part of its business plan, Lucern intends to maintain strong occupancy while bringing below-market leases closer to current market rates. The acquisition further expands the firm's small-bay industrial portfolio in Maryland.

About Lucern Capital Partners

Founded in 2016, Lucern Capital Partners invests in light industrial and retail assets in high-growth East Coast markets. The firm pursues value-add opportunities with a disciplined, hands-on approach. Its management team has completed over $2.5 billion in real estate transactions. Learn more at lucerncapital.com.