Bridge Investment Inks 168 KSF Renewal, Extension at MD Office Property

The Henry M. Jackson Foundation signed a long-term lease to occupy 168,000 square feet, adding an additional 22,000 square feet to its previous lease at SkyBridge Towers in Bethesda, Md.
SkyBridge Towers, Bethesda, Md.

Bridge Investment Group has secured the lease renewal and expansion of its anchor tenant, the Henry M. Jackson Foundation, at SkyBridge Towers, a two-building office asset in Bethesda, Md. Located at 6720 Rockledge Drive, the tenant signed a long-term extension to occupy 168,000 square feet, adding an additional 22,000 square feet to its previous lease.

An affiliate of the firm, Bridge Office Fund Manager LLC, recently purchased the property in January from Piedmont Office Realty Trust as part of a 2.2 million-square-foot portfolio transaction.

Cushman & Wakefield’s Executive Director Ben Powell and Senior Associate Gwen Fraker represented Bridge in leasing the property. “The Henry M. Jackson Foundation decided to stay at 6720 Rockledge Drive because of the project’s premier quality, attractive price point compared to new construction in downtown Bethesda, and new tenant amenity space that Bridge is adding,” said Powell in a prepared statement.

Renovation Plan

Bridge has plans to upgrade the 427,000-square-foot SkyBridge Towers to include a modernized co-working space and a 9,000-square-foot amenity center. Tenants will have access to amenities including:

  • lounge with coffee bar
  • multiple seating options
  • gaming area
  • indoor/outdoor bar and entertainment concept
  • two state-of-the-art conference centers

“So far, we’ve been incredibly pleased with the tenant reactions to our reposition concepts,” said Tommy Spinosa of Bridge in prepared remarks. “This is our first entry into the Montgomery County market, and we’re excited with the momentum we are already creating.”

Image courtesy of Yardi Matrix