"We entrusted the principal's at EDGE to develop the real estate strategy for our Maryland portfolio. The results...a decade long relationship, over 650,000 sq. ft. of leasing, nearly $500 million in transactions, the largest lease transaction in Maryland, and two Sales Transaction of the Year Awards. The results speak for themselves."
- Weldon Humphries, (Former) Senior Vice President, Choice Hotels International
Bradley
Arlington Office Complex – Bethesda,
Maryland
This is a fully stabilized property
located at the corner of Bradley
Boulevard and Arlington Road
(“Main & Main”)
in the Bethesda CBD, only four
blocks from the Metro Red Line
in an emerging submarket of Bethesda.
The average rental rates were
25% below their market value
and there was need of cosmetic
improvements and catch up on
deferred maintenance. The strategy
for this property was to renovate
and to roll rents up to market.
Considering the location and
the stability of this property,
this was a core asset acquisition
scheduled for a long-term hold.
Core Asset / Tax Driven
Acquisition
Acquired through 20-year
relationship with seller – not
marketed
150,000-sq. ft., two-building
office park purchased
from The Harvey Companies
for $26,400,000
Major capital improvements
completed during the
first 18 months of ownership
Aggressive leasing program
increased rents to market
Currently exceeding pro-forma
by 20%
Back
to Acquisitions
