{"id":1004601866,"date":"2022-09-08T04:16:52","date_gmt":"2022-09-08T12:16:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004601866"},"modified":"2022-12-09T02:12:01","modified_gmt":"2022-12-09T10:12:01","slug":"monday-properties-pays-84m-for-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/","title":{"rendered":"Monday Properties Acquires Office Campus"},"content":{"rendered":"
\"\"<\/a>

Park Plaza I. Image courtesy of CommercialEdge<\/p><\/div>\n

Monday Properties <\/strong>has acquired Park Plaza I and II, a Class A office complex in Rockville, Md. The two-building property includes 266,077 square feet and marks the first Maryland addition to the firm\u2019s portfolio. US Street <\/strong>was Monday Properties\u2019 partner on the deal.<\/p>\n

According to CommercialEdge data<\/a>, the previous owner was Marcus Partners<\/strong>, which purchased the properties in 2016. Plaza I was acquired by Marcus Partners for $25.4 million, while Park Plaza II was acquired for $4.5 million. Both were completed in 2001.<\/p>\n

Park Plaza I and II are situated along the Interstate 270 Life Sciences Corridor, in proximity to Rio and downtown Crown. The Shady Grove Metro Station is less than a mile away, accessible via I-270, I-370 and Route 355. The office complex is located near existing bio health companies, a large workforce and affordable housing.<\/p>\n

Improvements and amenities<\/h2>\n

The buildings recently went through a $3.3 million renovation. Monday Properties now plans to reposition the lobby and conference center, as well as implement electric car charging stations. The firm partnered with Alv<\/strong>\u00e9ole <\/strong>to keep the on-site beehives, and aims to achieve Fitwel\u00ae and WiredScore certifications for the property.<\/p>\n

Park I and II amenities include a 24\/7 fitness center, yoga studio, caf\u00e9, private terraces and a conference center. Tenants will have access to Monday Properties\u2019 app Monday+, giving access to features such as booking rooms, finding retailers and attending virtual wellness events.<\/p>\n

Newmark\u2019s <\/strong>Jud Ryan, Ryan Cassidy and Grant Marley represented the seller, while Cliff Cummings, vice president of acquisitions and capital transactions at Monday Properties, led the purchase. Newmark, in May, leased two floors of Kaizen Development Partners\u2019 <\/strong>Dallas tower<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Park Plaza I and II are situated in Rockville, Md.<\/p>\n","protected":false},"author":3006,"featured_media":1004601868,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,11,21742,21747],"tags":[34323,35824,50999],"class_list":["post-1004601866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-midatlantic","category-latest","category-office","tag-marcus-partners","tag-monday-properties","tag-newmark"],"acf":[],"yoast_head":"\nMonday Properties Acquires Office Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.\" \/>\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\/monday-properties-acquires-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monday Properties Acquires Office Campus\" \/>\n<meta property=\"og:description\" content=\"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/\" \/>\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=\"2022-09-08T12:16:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:12:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\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\/monday-properties-acquires-office-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/\",\"name\":\"Monday Properties Acquires Office Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg\",\"datePublished\":\"2022-09-08T12:16:52+00:00\",\"dateModified\":\"2022-12-09T10:12:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9\"},\"description\":\"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg\",\"width\":800,\"height\":620,\"caption\":\"Park Plaza I. Image courtesy of CommercialEdge\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Monday Properties Acquires Office Campus\"}]},{\"@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\/366883c93fc1efde412301ab6a4570f9\",\"name\":\"Jordana Rothberg\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Professional-Pic.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Professional-Pic.jpg?w=96\",\"caption\":\"Jordana Rothberg\"},\"description\":\"Jordana is an Associate Editor with a background in journalism, copywriting, and real estate property management. Before joining the Yardi team, Jordana worked for a start-up. She also managed development progress on Colorado properties for the Aspen Building Company.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/jordana-rothberg-003a06177\/\"],\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jordana-rothberg\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Monday Properties Acquires Office Campus - Commercial Property Executive","description":"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.","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\/monday-properties-acquires-office-campus\/","og_locale":"en_US","og_type":"article","og_title":"Monday Properties Acquires Office Campus","og_description":"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.","og_url":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-09-08T12:16:52+00:00","article_modified_time":"2022-12-09T10:12:01+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg","type":"image\/jpeg"}],"author":"Jordana Rothberg","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\/monday-properties-acquires-office-campus\/","url":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/","name":"Monday Properties Acquires Office Campus - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg","datePublished":"2022-09-08T12:16:52+00:00","dateModified":"2022-12-09T10:12:01+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9"},"description":"Park Plaza I and II is a Class A office complex in Rockville, Md. The asset recently underwent $3.3 million in improvements.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg","width":800,"height":620,"caption":"Park Plaza I. Image courtesy of CommercialEdge"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/monday-properties-acquires-office-campus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Monday Properties Acquires Office Campus"}]},{"@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\/366883c93fc1efde412301ab6a4570f9","name":"Jordana Rothberg","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Professional-Pic.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Professional-Pic.jpg?w=96","caption":"Jordana Rothberg"},"description":"Jordana is an Associate Editor with a background in journalism, copywriting, and real estate property management. Before joining the Yardi team, Jordana worked for a start-up. She also managed development progress on Colorado properties for the Aspen Building Company.","sameAs":["https:\/\/www.linkedin.com\/in\/jordana-rothberg-003a06177\/"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/jordana-rothberg\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/park-plaza-I.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004601866","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\/3006"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004601866"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004601866\/revisions"}],"predecessor-version":[{"id":1004602131,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004601866\/revisions\/1004602131"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004601868"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004601866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004601866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004601866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}