Lionstone Sells Lakefront at Washingtonian in Gaithersburg, MD

 WASHINGTON, D.C– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced the company’s Institutional Capital Markets group represented the Lionstone Group in the disposition of Lakefront at Washingtonian, (top left photo) a 103,823-square-foot Class A office building in Gaithersburg, Md., to the Brick Companies.

 Eric Berkman and Steve Gichner, both executive vice presidents, facilitated the sale.

 “This Class A asset is 94 percent leased to a diversified group of tenants with a number of long-term leases in place,” said Berkman.

 “Lakefront at Washingtonian’s excellent location in the heart of Washingtonian Center – Montgomery County’s premier 24-hour work, live and play town center – combined with the Washington, D.C., metro area’s overall attractiveness to investors, produced tremendous buyer interest in the offering.”

Washingtonian Center (bottom right photo) represents one of the densest amenity bases in Montgomery County, offering approximately 530,000 square feet of high-end retail, 13 restaurants, a 200,000-square-foot entertainment center and nearly 800 Marriott-affiliated hotel rooms, all within walking distance of the property.

Contact: Erin Mays, Phone: 312.698.6735,                               

Email:  erin.mays@grubb-ellis.com