{"id":1004288975,"date":"2019-01-02T07:46:30","date_gmt":"2019-01-02T15:46:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004288975"},"modified":"2022-12-09T01:11:37","modified_gmt":"2022-12-09T09:11:37","slug":"bridge-investment-group-acquires-dc-office-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bridge-investment-group-acquires-dc-office-complex\/","title":{"rendered":"Bridge Investment Group Acquires DC Office Complex"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004288990\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004288990\" data-attachment-id=\"1004288990\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bridge-investment-group-acquires-dc-office-complex\/spsgvk-x\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg\" data-orig-size=\"1822,1367\" 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=\"SPsGvk-x\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Station Square&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg?w=1024\" loading=\"lazy\" class=\"wp-image-1004288990 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg 1822w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/SPsGvk-x-e1546443981641.jpeg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004288990\" class=\"wp-caption-text\">Station Square<\/p><\/div>\n<p>A subsidiary of Bridge Investment Group has acquired Station Square, a 510,200-square-foot Class A office complex in the heart of Silver Spring, Md, from Brandywine Realty Trust. Bridge Office Fund Manager LLC purchased the three-building complex, located directly adjacent to a D.C. Metrorail station.<\/p>\n<p>The three properties\u20141100 Wayne Avenue, 1010 Wayne Avenue and 84848 Georgia Avenue\u2014are located in downtown Silver Spring, Md., a 20-minute drive from downtown Washington, D.C. Bridge Investment Group plans to invest more than $12 million for renovations to the three buildings including modernized lobbies, upgraded exteriors, modernized elevators and significant improvements to mechanical systems.<\/p>\n<p><em>\u201cThe greater D.C. region continues to benefit from a diversifying job market, the influx of Fortune 500 companies and a talented workforce,\u201d<\/em> said Tommy Spinosa, Acquisitions Director of Bridge Investment Group, in prepared remarks. <em>\u201cStation Square is well positioned to capitalize on growing demand for future-ready workspace that offers walkability, a sense of community and urban-style amenities within a few steps of the Metro.\u201d<\/em><\/p>\n<h2><strong>New and improved<\/strong><\/h2>\n<p>The new owner will reposition a courtyard at 1010 Wayne Avenue with new retailers and an upgraded entry, as well as unveil a new co-working concept at 8484 Georgia Avenue. Bridge Investment Group plans to reposition select office spaces at Station Square for a new spec suite program that will include open floor plans, creative lounge space and an array of tech-friendly amenities.<\/p>\n<p>Originally built between 1982 and 1987, Station Square has undergone more than $2 million in capital improvements since 2016 and is currently 80 percent occupied. Last month, a joint venture acquired One Discovery Place in downtown Silver Spring <a href=\"https:\/\/www.commercialsearch.com\/news\/cerberus-jv-to-repurpose-former-discovery-communications-hq\/\">with plans to reposition the property<\/a>.<\/p>\n<p><em>Image courtesy of Bridge Investment Group<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 510,200-square-foot office complex in Silver Spring, Md., which comprises three buildings, will undergo a $12 million upgrade.<\/p>\n","protected":false},"author":745,"featured_media":1004288990,"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":[34672,43553],"class_list":["post-1004288975","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-brandywine-realty-trust","tag-bridge-investment-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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