Foulger-Pratt Buys Up-Zoned North Bethesda Building for $5.1M
Nebel Road, LLC, a subsidiary of Bethesda-based Klinedinst Management, has sold 11600 Nebel Street in North Bethesda to Foulger-Pratt Development, LLC for $5.1 million.
McShea’s brokerage team of Joe Friedman, Tom Truxillo and Grant Danhausen represented the Seller in this transaction.
11600 Nebel Street is a 31,205 square-foot office building located two blocks from the White Flint Metro Station in North Bethesda. The fully leased property was originally developed in 1970 and sits on 1.26 acres.
The property was brought to market in the summer of 2012.
As part of the 2010 revised White Flint Sector Plan, the property was up-zoned for high-rise, mixed-used development. The White Flint Sector Plan is remaking North Bethesda into a walkable, transit-oriented, “smart-growth” community, bringing over 17 million square feet of development and creating an estimated 19,000 jobs once fully realized.