Carr Pays $105M for Bethesda Office, Plans Redevelopment

Carr Properties has acquired 7272 Wisconsin Avenue in Bethesda, MD. The Washington, DC-based buyer paid $105 million to the American Society of Health-System Pharmacists for the 163,000-square-foot, four-story office building; the seller’s former headquarters.

Carr’s plans are to redevelop its new asset into a mixed-use, 900,000-square-foot property that will offer office, residential and retail space. Plans also call for the project to 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.

In a related transaction, the American Society of Health-System Pharmacists will relocate its headquarters to Carr’s recently developed LEED Platinum office building, located at 4500 East West Hwy. in Bethesda.