Cushman & Wakefield Represents ARA in Sale of Office Building
Cushman & Wakefield today announced that it represented American Realty Advisors (ARA) in the sale of Hampden Square in Bethesda, MD, to The Donohoe Companies, Inc.
Bill Collins, Paul Collins, Drew Flood and Shaun Weinberg represented ARA in the sale of 4800 Montgomery Lane.
Hampden Square is a 145,951 square foot office building located at the intersection of Montgomery Lane and Woodmont Avenue in the heart of Bethesda. It is within one block of the Bethesda Metro station (Red Line) and adjacent to the planned Purple Line station with nearby Bethesda Row, a 340,000 square foot retail and entertainment center with a 24/7 urban environment.
“This sale is just another validation of the strength of the downtown Bethesda office sales market,” said Bill Collins. “It’s clear to me that these opportunities to acquire such high-quality assets are becoming harder to come by, and, as such, the scarcity value only becomes greater in the future.”
The building is currently 85% leased with five full-floor tenants. The property’s entrance features a landscaped outdoor plaza that leads into a contemporary lobby, complete with marble flooring and walls. With smaller, unique floorplates, tenants are able to experience an above-market ratio of windowed space, elevator presence and a plethora of natural light. Additionally, some of the suites offer outdoor terraces with views overlooking Bethesda.
About American Realty Advisors
With over $7.3 billion in assets under management, American Realty Advisors is a leading provider of commercial real estate investment management services. For over 27 years, American has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts. American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding American can be found at www.americanreal.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWakeon Twitter.
