News Release: 9/16/2025 Hyatt Commercial Announces Landmark Investment Sale Opportunity at 1750 Forest Drive in Annapolis

Annapolis, MD – September 15, 2025 — Hyatt Commercial is presenting the exclusive sale opportunity of 1750 Forest Drive, a ±120,750-square-foot Class A office property on ±8.19 acres. The asset stands along Aris T. Allen Boulevard, one of the main gateway corridors into Annapolis, and offers unmatched visibility.
 

Developers Manekin and Blue Vista Capital Management invested more than $20 million between 2017 and 2019 to reposition the former Maryland Automobile Insurance Fund headquarters. They transformed the site into a modern, amenity-rich office destination. The project introduced a dramatic three-story atrium lobby with 22-foot skylights and wide glass walls. These features create a striking arrival experience and attract premium tenants. In addition, the owners made significant upgrades and modernized the building bringing it into a class of its own in Annapolis. 
 

The property is 76% leased with a 6.9-year weighted average lease term. Tenants include federal agencies such as the IRS, EPA, and National Park Service, along with medical and private sector companies. As a result, the asset delivers stable cash flow and reduced concentration risk. With 24% vacancy remaining, investors have an opportunity to create additional value through lease-up in a submarket with a steady 7.6% vacancy rate. Several tenants, including South River Mortgage and DFS, already relocated from competing Annapolis properties to secure space here.
 

The property is surrounded by Annapolis’s premier retail destinations, including Annapolis Town Center, Festival at Riva, and Annapolis Harbour Center. Tenants also enjoy walkable access to grocery, dining, and lifestyle amenities. Within a three-mile radius, over 64,000 residents earn a median household income of $110,446, creating a strong demographic base that supports a skilled workforce and sustained demand for Class A office space.
 

“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.”