MD Office Campus Up for Sale
- Sep 13, 2017
Equus Capital Partners retained Transwestern to market Metro Executive Park I and II, a 123,824-square-foot office portfolio in Rockville, Md. Transwestern Executive Managing Director Gerry Trainor will handle the marketing process for the property.
“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,” Trainor said in a prepared statement. “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 three-story office park features updated lobbies and common areas, an on-site deli and landscaped outdoors, in addition to online management services. The property is 62 percent leased to 17 tenants and is anchored by the U.S. Food and Drug Administration, which takes up 15.6 percent of the overall occupancy. The vacant space totals 34,622 square feet and includes a former bank branch with a drive-thru.
Neighborhood on the rise
The two-building portfolio is located at 15850 and 15800 Crabbs Branch Way, a half-mile away from the recently reimagined Shady Grove Metro Station, which comprises a live/work/play community that includes new developments such as the Westside at Shady Grove Metro Station, the upcoming $650 million Shady Grove Neighborhood Center and the Upper Rock District. Neighborhood amenities include eateries, fitness centers, banks, retailers and the King Farm Stream Valley Park.
Image courtesy of Transwestern