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Washington DC & Mid-Atlantic  + Office  |  January 4, 2021
David Cohen
By: David Cohen

Newmark Brokers $33M Sale of Rockville Office Property

Newmark has arranged the $32.7 million sale of Twinbrook Office Center, a 163,936-square-foot office property in Rockville.

The Twinbrook Office Center encompasses six floors of space spanning over more than two acres of land. The asset is currently 80% leased with nearly 50% of its tenancy leased to biotech and life science industry participants. Notable tenants include Johnson & Johnson, Merck, Dovel and Novartis. The property recently underwent a $3.4M capital improvements plan that included a renovated main lobby, exterior façade, entry, surface parking areas, landscaping, a full elevator modernization, common area renovations and bathroom upgrades.

Jud Ryan, James Cassidy and Cliff Cummings of Newmark represented the seller, Ivy Realty, in the transaction. The buyer was Morning Calm Management.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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