Annapolis, MD – September 15, 2025 —Hyatt Commercial is pleased to present the exclusive sale of 1750 Forest Drive, a ±120,750-square-foot Class A office property situated on ±8.19 acres in Annapolis, Maryland. Positioned along Aris T. Allen Boulevard—one of the city’s main gateway corridors—the property offers unmatched visibility and accessibility.
Comprehensive Redevelopment
Between 2017 and 2019, developers Manekin and Blue Vista Capital Management invested more than $20 million to reposition the former Maryland Automobile Insurance Fund headquarters. The extensive redevelopment transformed the site into a modern, amenity-rich office destination. Highlights include a dramatic three-story atrium lobby with 22-foot skylights and expansive glass walls that create a striking arrival experience designed to attract premium tenants.
Tenant Mix and Cash Flow
The property is currently 76% leased, with a 6.9-year weighted average lease term. Tenants include federal agencies such as the IRS, EPA, and National Park Service, as well as medical and private sector companies. This diverse tenant base delivers stable cash flow while reducing concentration risk. With 24% vacancy remaining, investors have the opportunity to capture additional value through lease-up. The submarket’s steady 7.6% vacancy rate further enhances growth potential. Notably, several tenants—including South River Mortgage and Redzone—relocated from competing Annapolis properties to secure space here.
Community and Workforce Advantages
The property sits adjacent to Annapolis’s premier retail destinations, including Annapolis Town Center, Festival at Riva, and Annapolis Harbour Center. Tenants also benefit from walkable access to grocery, dining, and lifestyle amenities. Within a three-mile radius, more than 64,000 residents earn a median household income of $110,446, supporting both a skilled workforce and long-term demand for Class A office space.
A Rare Opportunity
“1750 Forest Drive represents the best of both worlds—strong in-place cash flow with significant upside potential through additional lease-up,” said Cecil Cummins, Executive VP at Hyatt Commercial. “This is a rare chance to acquire a signature office landmark in one of Maryland’s most desirable submarkets.”
Also covered by Baltimore Business Journal, CityBiz and AAC.
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