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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