Class A Property Neighbors Affluent Rockville Town Center
January 26, 2021
WASHINGTON – Transwestern Real Estate Services (TRS) announces it has been named the exclusive sales agent for 11 N. Washington St., a 97,410-square-foot, Class A office building in downtown Rockville, Maryland. Transwestern’s Mid-Atlantic Capital Markets team will handle disposition services on behalf of the owner.
“The property’s centralized location next to the Montgomery County courthouse and Rockville Metro Station is a compelling asset for investors,” said Gerry Trainor, Transwestern Executive Managing Director. “The Rockville market has become an environment with robust offerings for all lifestyles, and being centrally situated in this affluent community presents a unique mix of both quality and culture.”
Built in 2001, this multi-tenant office building is 94% leased and anticipated to trade in the low 7% cap rate range, providing investors strong cash-on-cash returns. The well-maintained property mitigates future capital exposure and has a history of over 95% occupancy since its delivery.
In addition to its location in central Rockville Town Square benefiting from walkable amenities, the seven-story building is three blocks from the Rockville Metrorail and MARC station. The property is in within walking distance of 64% of Rockville’s 145 law firms. The free-standing building features four elevations of windows providing an abundance of natural light, three levels of below-grade parking, flexible floor plates of approximately 15,000 square feet, balconies and outdoor dining.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment sales services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. 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 keen understanding of the local, national and international investment communities.
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. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.