Transwestern today announces it has been retained by an affiliate of Equus Capital Partners to sell Metro Executive Park I and II at 15850 and 15800 Crabbs Branch Way, respectively, in Rockville, Maryland. Gerry Trainor, Executive Managing Director of Transwestern’s Mid-Atlantic Capital Markets Group, is the lead listing agent for the property, which totals 123,824 square feet.
“Metro Executive Park offers investors a value-add opportunity with immediate stable cash flow and the potential to add value through the lease-up of vacant space,” said Trainor. “Furthermore, this submarket’s transformation from mostly office buildings to a mixed-use environment is beneficial for the area and reduces competition for office properties.”
The two office buildings are a half-mile from the Shady Grove Metro Station, an area that has undergone significant transformation into a live/work/play community with the addition of several developments: Westside at Shady Grove Metro Station, Shady Grove Neighborhood Center and the Upper Rock District.
Metro Executive Park is 62 percent leased to 17 tenants, including a General Services Administration lease for the U.S. Food and Drug Administration that accounts for 15.6 percent of the total rentable area. Vacant space, totaling 34,622 square feet, inclues a former bank branch with a drive-through.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.