$150.1 million sale of 3 Bethesda Metro Center in Bethesda, MD closed by HFF

 WASHINGTON, DC. – HFF announced today that it has closed the sale of 3 Bethesda Metro Center (top left photo), a 17-story, 368,400-square-foot, Class A office building in Bethesda, Maryland.

HFF marketed the property on behalf of the seller, Meridian Group.  Brookfield Office Properties Inc. purchased 3 Bethesda Metro Center for $150.1 million. 

3 Bethesda Metro Center is situated at the southwest corner of Wisconsin Avenue and Old Georgetown Road adjacent to the Bethesda Metrorail Station and one block from Bethesda Row. 

The property is comprised of a 17-story office building connected to a three-story structure that offers street-level retail space with two levels of office space above. 

Parking is provided for 1,311 vehicles.  3 Bethesda Metro Center is 93 percent leased to tenants including Bureau of National Affairs, Bank of America and Merrill Lynch.  The site also has excess density for future development.

The HFF team representing Meridian Group was led by senior managing directors Jim Meisel (middle right photo)  Dek Potts (lower left photo) and Andrew Weir (bottom right photo), executive managing director Steve Conley and real estate analyst Jessica Dickinson.

 Based in Bethesda, Maryland, The Meridian Group is a real estate investment and development firm with a strategic focus in the metropolitan Washington, D.C. region. 

Meridian has acquired or developed commercial real estate worth over $2.2 billion, totaling 7 million square feet and 429 acres of development land since it was founded in 1993.

Brookfield Office Properties Inc., focused on property, renewable power and infrastructure assets, has more than $100 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA

Contacts:    

Stephen C. Conley, HFF Executive Managing Director, (202) 533-2500 sconley@hfflp.com                                                                                  

Stephen Dek Potts Jr., HFF Senior Managing Director, (202) 533-2500 dpotts@hfflp.com                                   

James A. Meisel, HFF Senior Managing Director, (202) 533-2500,             

jmeisel@hfflp.com                         

Andrew M. Weir, HFF Senior Managing Director, (202) 533-2500 aweir@hfflp.com                                                                                          

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com.

http://www.brookfield.com/