Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.
- ◦Sale/Acquisition
