{"id":1004145104,"date":"2016-05-30T23:56:53","date_gmt":"2016-05-31T07:56:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145104"},"modified":"2020-05-18T15:58:31","modified_gmt":"2020-05-18T23:58:31","slug":"bethesda-office-asset-changes-hands-for-105-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/","title":{"rendered":"Bethesda Office Asset Changes Hands for $106M"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004145105\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004145105\" data-attachment-id=\"1004145105\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/ashp\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\" data-orig-size=\"643,385\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"ashp\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg?w=643\" class=\"wp-image-1004145105 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\" alt=\"7272 Wisconsin Ave., Bethesda, Md.\" width=\"300\" height=\"180\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg 643w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg?resize=300,180 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004145105\" class=\"wp-caption-text\">7272 Wisconsin Ave., Bethesda, Md.<\/p><\/div>\n<p><strong>Washington<\/strong>\u2014<a href=\"https:\/\/www.carrprop.com\/\" rel=\"nofollow\" target=\"_blank\">Carr Properties<\/a> has acquired 7272 Wisconsin Ave., a 163,000-square-foot office property in the Central Business District of Bethesda, Md., from an entity controlled by the <a href=\"https:\/\/www.ashp.org\/\" target=\"_blank\">American Society of Health-System Pharmacists<\/a>, for $105.5 million.<\/p>\n<p>The four-story building will be redeveloped into a high quality <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use\/\" target=\"_blank\">mixed-use development<\/a> project that will consist of office, residential and retail uses in excess of 900,000 square feet. The development will also incorporate the new Bethesda Purple Line Station, a new entrance to the Metro Red Line and a below-grade tunnel for the Capital Crescent Trail.<\/p>\n<p>\u201cWe believe that the Apex site, as redeveloped, will be the new commercial hub of the Bethesda market with unparalleled access to public transportation, bike trails and the thriving restaurant and retail of Bethesda Row,\u201d Oliver Carr, III, Carr Properties CEO, said in a prepared release. \u201cWe could not be more excited about this opportunity for our company.\u201d<\/p>\n<p>According to <a href=\"https:\/\/www.scheerpartners.com\/\" rel=\"nofollow\" target=\"_blank\">Scheer Partners<\/a>\u2019 latest Bethesda market report, the area has great appeal to tenants, property owners and residents, as it possesses all the core fundamentals that a great submarket needs, including transit options, high-end residential and established and well-known retail. Because of this, Bethesda continues to achieve higher rental rates, boast one of the lowest vacancy rates in the region and maintains an affluent tenant base. This past year has been no exception, with the average rental rate up to $37 per square foot and the vacancy rate remaining flat at around 13 percent.<\/p>\n<p>In a related transaction, the American Society of Health-System Pharmacists will relocate its headquarters to Carr\u2019s recently developed, LEED Platinum office building at 4500 E. West Highway in Bethesda.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carr Properties has acquired a four-story office building in metro D.C., with plans to turn it into an upscale mixed-use development.<\/p>\n","protected":false},"author":451,"featured_media":1004145105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,11,21752,21747,1615],"tags":[],"class_list":["post-1004145104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-midatlantic","category-mixed-use","category-office","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bethesda Office Asset Changes Hands for $106M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bethesda Office Asset Changes Hands for $106M\" \/>\n<meta property=\"og:description\" content=\"Carr Properties has acquired a four-story office building in metro D.C., with plans to turn it into an upscale mixed-use development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-31T07:56:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T23:58:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"643\" \/>\n\t<meta property=\"og:image:height\" content=\"385\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/\",\"name\":\"Bethesda Office Asset Changes Hands for $106M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\",\"datePublished\":\"2016-05-31T07:56:53+00:00\",\"dateModified\":\"2020-05-18T23:58:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg\",\"width\":643,\"height\":385},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bethesda Office Asset Changes Hands for $106M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bethesda Office Asset Changes Hands for $106M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/","og_locale":"en_US","og_type":"article","og_title":"Bethesda Office Asset Changes Hands for $106M","og_description":"Carr Properties has acquired a four-story office building in metro D.C., with plans to turn it into an upscale mixed-use development.","og_url":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-05-31T07:56:53+00:00","article_modified_time":"2020-05-18T23:58:31+00:00","og_image":[{"width":643,"height":385,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg","type":"image\/jpeg"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/","url":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/","name":"Bethesda Office Asset Changes Hands for $106M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg","datePublished":"2016-05-31T07:56:53+00:00","dateModified":"2020-05-18T23:58:31+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg","width":643,"height":385},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/bethesda-office-asset-changes-hands-for-105-5m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Bethesda Office Asset Changes Hands for $106M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/ashp.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004145104"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145104\/revisions"}],"predecessor-version":[{"id":1004446642,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004145104\/revisions\/1004446642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004145105"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004145104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004145104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004145104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}