{"id":1004177373,"date":"2017-05-18T08:56:01","date_gmt":"2017-05-18T16:56:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177373"},"modified":"2025-02-18T05:45:12","modified_gmt":"2025-02-18T13:45:12","slug":"hbw-group-completes-sale-of-rockville-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hbw-group-completes-sale-of-rockville-asset\/","title":{"rendered":"HBW Group Completes Sale of Rockville Asset"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004177379\" style=\"width: 378px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177379\" data-attachment-id=\"1004177379\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hbw-group-completes-sale-of-rockville-asset\/d710e59d-dfc6-4b2f-9913-947b667e0896\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" 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=\"451 Hungerford Drive, Rockville, Md.\" data-image-description=\"&lt;p&gt;451 Hungerford Drive, Rockville, Md.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;451 Hungerford Drive, Rockville, Md.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg?w=1000\" class=\"wp-image-1004177379 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg\" alt=\"451 Hungerford Drive, Rockville, Md.\" width=\"368\" height=\"276\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/D710E59D-DFC6-4B2F-9913-947B667E0896.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 368px) 100vw, 368px\" \/><\/a><p id=\"caption-attachment-1004177379\" class=\"wp-caption-text\">451 Hungerford Drive, Rockville, Md.<\/p><\/div>\n<p>ProMark Real Estate Services acquired 451 Hungerford Drive in <a href=\"https:\/\/www.commercialsearch.com\/news\/suburban-dc-office-building-sells-for-4m\/\">Rockville<\/a>, Md. from HBW Group for $14.5 million, according to public records. The acquisition was backed by $11.3 million financing funded by Revere Bank.<\/p>\n<p>HBW Group developed the seven-story asset in 1980. The 101,000-square-foot building sits on 3.12 acres and includes 14,000 square feet of retail on the first floor, as well as 278 parking spaces, according to <em>Yardi Matrix<\/em>. ProMark plans to renovate the exterior and replace the mechanical system with a new one, unveiling possible development plans.<\/p>\n<p>The building is adjacent to Rockville Town Square and a new residential construction. It is also close to retailers, restaurants and banks. Transportation is facilitated by various bus stations, a metro station and easy access to State Route 355. Tenants include First National Bank, H&amp;R Block, USA Gateway Travel Corp. and Gold City Jewelers. \u00a0<\/p>\n<p>\u201c<em>We think the shrinking supply of affordable office space close to Metro, along with the Town Center amenities, will keep this building well-occupied for years to come,<\/em>\u201d said ProMark Management Director Rob Eisinger, in prepared remarks.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ProMark Real Estate Services purchased the 37-year-old, 101,000-square-foot office building and has renovations planned for the property. <\/p>\n","protected":false},"author":241,"featured_media":1004177379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[35632,35633,35634],"class_list":["post-1004177373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-hbw-group","tag-promark-real-estate","tag-revere-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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