Thursday, May 9, 2013

HFF closes $16.1 million sale of Bethesda, MD office property




                             7220 Wisconsin Avenue, Bethesda, MD

Jim Meisel
WASHINGTON, D.C. – HFF announced today that it has closed the sale of 7220 Wisconsin Avenue, a 40,325-square-foot office property in Bethesda, Maryland.

HFF marketed the property exclusively on behalf of the seller, The JBG Companies.  Peel Properties purchased the asset for $16.1 million free and clear of existing debt.

Dek Potts
The asset is located in downtown Bethesda within walking distance to Bethesda Row, a mixed-use development featuring a variety of upscale dining, retail and lifestyle tenants.  The building is 95 percent leased to a diverse mixture of tenants including BB&T and the American College of Medical Genetics. 

Andrew M. Weir
The HFF investment sales team representing the seller was led by senior managing directors Jim Meisel, Dek Potts and Andrew Weir, executive managing director Stephen Conley and senior real estate analyst Jessica Dickinson.

“This property provided investors an excellent chance to obtain a well-maintained boutique office space in one of the most coveted and best performing markets in the Washington, D.C. area,” commented Meisel.

Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties.  The company has more than $10 billion in assets under management and development in the Washington, D.C. area. 

Stephen Conley
Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities.  More information can be found by visiting the company's website: www.JBG.com.


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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