{"id":1004202280,"date":"2018-01-04T13:41:21","date_gmt":"2018-01-04T21:41:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202280"},"modified":"2022-12-05T13:35:12","modified_gmt":"2022-12-05T21:35:12","slug":"cbre-snags-md-mixed-use-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-snags-md-mixed-use-asset\/","title":{"rendered":"CBRE Snags MD Mixed-Use Asset"},"content":{"rendered":"<p>By Beata Lorincz<\/p>\n<div id=\"attachment_1004202284\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202284\" data-attachment-id=\"1004202284\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-snags-md-mixed-use-asset\/north-bethesda-market-in-washington-dc\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg\" data-orig-size=\"1000,752\" 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;Blake Marvin \/ HKS, Inc.&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=\"North Bethesda Market in Washington, DC\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;North Bethesda Market in Washington, DC&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg?w=1000\" class=\"wp-image-1004202284 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg\" alt=\"North Bethesda Market\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg?resize=300,226 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/North-Bethesda-Market-in-Washington-DC-e1515069761211.jpg?resize=768,578 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202284\" class=\"wp-caption-text\">North Bethesda Market in Maryland<\/p><\/div>\n<p>The CBRE Strategic Partners U.S. Value 8 fund has acquired North Bethesda Market, a mixed-use property located in North Bethesda, Md., from majority owner Capri Capital Partners. The asset is a Class A property providing 182,926 square feet of retail, 411 apartments and 1,205 parking spaces.<\/p>\n<p>The\u00a0development is situated at 11351 Woodglen Drive, within walkable distance to\u00a0White Flint Metro Station, offering easy access to downtown Washington, D.C. and the area\u2019s largest employers.<\/p>\n<p>The retail space houses a mix of retailers and restaurants, currently at 87.4 percent leased. Nearly 14,000 square feet of the retail component has the potential of being used as either creative office space or additional residential units, due to the flexible characteristics of the floorplan.<\/p>\n<h2>Transit-oriented community<\/h2>\n<p>The multifamily segment, currently 96.8 percent leased, comprises a condo-quality 24-story high-rise with 187 units and a six-story building with 224 units. According to Yardi Matrix data, the property\u00a0includes 226 one-, 125 two- and two three-bedroom units, as well as 58 studio apartments.<\/p>\n<p>The community features two rooftop swimming pools, a resident club lounge, a fitness center, green rooftops with a lounge area, fire pits and covered parking.<\/p>\n<p><em>\u201cAs one of the historically strongest performing real estate markets in the country, Washington, D.C., is a focus market for this fund<\/em><em>. <\/em><em>Montgomery County, in particular, has experienced significant and sustained population growth in recent years. <\/em><em>Considering the mixed-use site, accessibility to transportation and desirable neighborhood, we believe North Bethesda Market will be very competitive,\u201d<\/em> said Robert Perry, principal &amp; portfolio manager, CBRE Global Investors, in a prepared statement.<\/p>\n<p>In August last year, CBRE purchased\u00a0two adjacent <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-pays-97m-for-stamford-towers\/\">Class A office buildings<\/a> in Stamford, Conn. from a joint venture between SL Green<strong>\u00a0<\/strong>and\u00a0TH Real Estate, for\u00a0$97 million.\u00a0<\/p>\n<p><em>Image courtesy of\u00a0CBRE Global Investors Fund<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transit-oriented North Bethesda Market comprises nearly 183,000 square feet of retail and 411 apartments.<\/p>\n","protected":false},"author":739,"featured_media":1004517808,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21752,21742,1615],"tags":[33657,32789],"class_list":["post-1004202280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-mixed-use","category-latest","category-washington-dc","tag-capri-capital-partners","tag-cbre"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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