WASHINGTON, D.C. – HFF announced today the sale of 540 Gaither Road (top left photo), a six-story, 133,895-square-foot, Class A office property in Rockville, Maryland.HFF marketed the property on behalf of the seller, Seaton Benkowski & Partners. Federal Partners purchased 540 Gaither Road for $35.23 million and assumed a $25 million loan on the property.
540 Gaither Road, otherwise known as The Eisenberg Building, was completed in 2003 and serves as the headquarters for the Agency for Healthcare Research and Quality, the health services research arm of the United States Department of Health and Human Services.
The fully leased facility is one of three buildings within the Redland Corporate Center, which is adjacent to the King Farm Development and close to the Shady Grove Metro Station and Interstate 270 in Rockville.
“Our interest in 540 Gaither Road was driven by the combination of growing scarcity of large block space in the Rockville I-270 market as well as the stability of the existing AHRQ lease through the first quarter of 2013,” said Darryl Asack of Federal Partners. “We are optimistic that the steady improvement of this submarket will position this well-located asset to capture growing tenant demand in tightening space conditions.”
The HFF investment sales team representing Seaton Benkowski & Partners was led by senior managing directors Jim Meisel (middle right photo) and Dek Potts (lower left photo)
Founded in 1991, Seaton Benkowski & Partners, North America Inc. (“SBP”) is a boutique real estate investment and management services firm for clients around the world. SBP specializes in the placement and management of Washington, D.C. area investments for large endowments, trusts and pension funds. The firm invests either directly or in joint venture with operating partners and is currently seeking mezzanine and preferred equity investment opportunities in close in submarkets.
Founded in 2004, Federal Partners is a $925 million co-investment joint venture acquiring U.S. Federal Government-leased office buildings around the country and currently operates a portfolio of nearly 1.3 million square feet of assets.
For more information on Federal Partners please visit http://www.federalpartners.us.com/.
Contacts:
James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com
Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533-2500, dpotts@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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