Edge, a full-service commercial real estate firm with offices in Washington D.C., Virginia, Maryland and Pennsylvania, has brokered the sale of 12300 Carroll Avenue, a 22,000 square foot warehouse building situated in the Rockville section of Montgomery County, Maryland for $4.4 million. The asset was 87% leased to three tenants at the time of the transaction. Edge’s Capital Markets team, led by Joe Friedman, Partner and Will Kostrzewsky, Associate, represented the seller, 12300 Carroll Investors, LLC, a Bethesda-based investment group, and procured the purchaser, HRC Carroll LLC, a 1031 exchange investor in this sales transaction.
This marks the third building sold by Edge’s Capital Markets team in Montgomery County this year. Previous sales include 2301 Research Boulevard, a three-story, 93,000 square foot commercial office building that traded for $9.25 million, and 12006 Plum Orchard Drive, a 30,700 square foot warehouse/office building that sold for $7.35 million. The cumulative sales volume for the three transactions exceeded $21 million.
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