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Perseus TDC has acquired an office building in Bethesda, MD with intents of conversion to a multifamily with retail property.

Perseus Acquires 65K-SF Bethesda Office for Multifamily Conversion

Perseus TDC has acquired a five-story, 65,000-square-foot office building in Bethesda, MD from Klinedinst Management. Perseus TDC plans to redevelop the site as a 10-story multifamily community with more than 300 units and 8,000 square feet of retail and amenities.

Entitlement and design of the property at 4405 East-West Highway is underway, and construction is expected to begin in 2024.

The property is near major employment hubs, such as Marriott’s new corporate headquarters, the National Institutes of Health, Walter Reed National Military Medical Center and the I-270 life sciences corridor. Bethesda Row and Woodmont Triangle, offering more than 1 million square feet of entertainment, restaurants and grocery stores, are within blocks.

According to Nihar Shah, VP of development at Perseus TDC, the project will be in conformance with the Bethesda Downtown Sector Plan and a percentage of the units will be allocated to Montgomery County’s Moderately Priced Dwelling Unit Program.

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Perseus TDC's Shah

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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