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Bridge Adds to MD Portfolio with Rockville Offices
A Bridge Investment Group subsidiary acquired 77 Upper Rock, a 235,210-square-foot Class A office building in Rockville, MD. Terms weren’t disclosed. The deal brings Atlanta-based Bridge’s Maryland portfolio to more than one million square feet.
Originally built in 2005, 77 Upper Rock recently underwent a $6.5-million repositioning. Bridge plans additional capital improvements.
“We are pleased to acquire a high-quality asset in a dynamic submarket that continues to see an influx of job growth and new amenities,” said Tommy Spinosa, acquisitions director for Bridge.
“Despite the positive momentum, there is still a dearth of premier, Class A office product in Shady Grove, which presents an opportunity for Bridge to deploy its proven strategy of creating desirable, next-generation workspaces that are compatible with how companies work both today and tomorrow.”
Spinosa represented Bridge in the transaction. JLL’s Andrew Weir advised the seller.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
