Transwestern Marketing 2.5-Acre Site for Multifamily or Biotech Conversion
July 05, 2022
WASHINGTON – Transwestern Real Estate Services (TRS) announces its Mid-Atlantic Capital Markets Group has been named the exclusive sales agent for Rockville Metro Center, a 145,491-square-foot office building at 255 Rockville Pike in Rockville, Maryland. Transwestern Executive Managing Director Gerry Trainor is marketing the 2.5-acre opportunity for multifamily redevelopment, life science conversion, or other uses.
“Currently vacant, Rockville Metro Center is ideally positioned for immediate redevelopment providing a buyer optionality on the uses,” said Trainor. “The property is within Montgomery County’s flourishing I-270 biotech corridor and just minutes from downtown Washington, D.C., allowing investors to enter the high-barrier-to-entry market where land and conversion options are scarce.”
Situated in the heart of Rockville Town Center, Rockville Metro Center is zoned PD-RCI, which permits residential and commercial developments with approval. The two-story building has 2.5 levels of below-grade parking, sky bridge access to the Rockville metro station, and direct commuter access via Rockville Pike, I-270 and I-495.
The property features 18-foot ceilings, 65,000-square-foot floor plates, 30x30 column spacing, a loading dock, five elevators, and an oversized freight elevator. Additional density exists for those looking to expand vertically or raze the building.
Transwestern’s Mid-Atlantic Capital Markets Group delivers an optimal capital solution for each assignment by combining investment sales and capital markets expertise with local market and product insight. During the past 24 months, the group’s transactions have exceeded $1.7 billion in aggregate value. The team’s success is a direct result of detailed underwriting and a keen understanding of the local, national and international investment communities.
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About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.