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Saturday, February 11, 2012 Office
National real estate investment firm Boston Properties sold a 680,000 square foot office park in Maryland for $280.5 million to Prudential Real Estate Investors on July 3. Cassidy & Pinkard Colliers represented Boston Properties Inc. in the sale of the Democracy Center office complex in Bethesda, Md. Located on Rockledge Dr. in North Bethesda, the Democracy Center consists of three office buildings. Boston Properties developed the office park in the 1980s and renovated each of three buildings during the 1990s. Built in 1984, One Democracy Center is located at 6901 Rockledge and is a nine-story building with 185,000 square feet of space. Built in 1985, Two Democracy Center is located at 6903 Rockledge and totals 311,000 square feet. Three Democracy Center was built in 1987 and totals 184,787 square feet. One and Two Democracy had about 111,700 square feet of space available for lease, while Three Democracy is completely leased. Tenants in the complex include HMSHost, Host Hotels & Resorts, Winchester Homes and New York Life Insurance. Boston Properties Inc. has its headquarters in Boston but four other regional offices in the country. The company has a portfolio of 134 properties totaling more than 42 million square feet focused largely in Boston, New York City, Washington, D.C., San Francisco, and Princeton, N.J. Prudential Real Estate Investors is the real estate branch of Prudential Financial. The company's total assets reached $38.4 billion spread on four continents in March, with $27.2 billion invested in the U.S. Address: 6901 and 6903 Rockledge Dr., Bethesda, Md. Size: 680,000 square feet Built: 1984-1987 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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