MC Real Estate Partners Snaps Up Maryland Asset
- Sep 09, 2019
MC Real Estate Partners has purchased Executive Plaza, a 327,000-square-foot, two-building office asset in Rockville, Md. JLL brokered the sale on behalf of the seller, Monument Realty, and arranged financing for the buyer.
MCRE is a newly formed company and the acquisition marks its second office purchase. The Polinger Co. will continue to manage the property and Avison Young will remain the leasing agent. The buildings last changed hands in 2012, for a total of $36.8 million, according to Yardi Matrix data.
Situated at 6120 and 6130 Executive Blvd., the office buildings offer quick access to freeways 187 and 355. The property is positioned near the White Flint metro station, as well as several bus lines, and is within 5 miles of downtown Rockville. In addition to these, Executive Plaza is close to many eateries and shopping options.
Constructed in 1985, the two eight-story buildings occupy around 26 acres and feature floor plates ranging from 16,930 to 20,508 square feet, Yardi Matrix data shows. Additional characteristics include more than 500 parking spaces and a fitness center. The buildings underwent cosmetic renovation in 2014.
JLL’s team brokering the sale included Senior Managing Director Jim Meisel and Senior Director Matt Nicholson. JLL’s Susan Carras, senior managing director, and Chris Hew, senior director, arranged the financing. The firm’s list of recent office deals also includes the sale of two office buildings in San Diego.