HFF declared that it has concluded the deal of 3 Bethesda Metro Center, a 17 storey tall Class A office construction measuring 368,400 sq ft, in Bethesda, Maryland to Brookfield Office Properties. HFF sold the property representing the seller Meridian Group for $150.1 million.
A Property sold by HFF. Credit: HFF
The property is located at the Wisconsin Avenue’s southwest corner and Old Georgetown Road next to Bethesda Metrorail station and one block away from Bethesda Row. The asset includes a 17 storey office construction linked to a three-storey building that provides retail-space at the street-level along with office space at levels above it. Nearly 93% of the Metro Center is leased and the tenants list includes Merrill Lynch, Bank of America and Bureau of National Affairs. The property has enough parking facility for 1,311 vehicles. The site has enough space to venture into future development.
HFF functions from its 19 offices all over the nation and provides capital market services and commercial real estate services to the commercial real estate industry in the USA. HFF along with its associate HFFS provides an all included platform for the national capital markets, which includes commercial loan servicing, loan sales, private equity, structured finance, advisory services, investment sales and debt placement.
Source: http://www.hfflp.com/