Transwestern announced today that it brokered the sale of 1700 Research Boulevard, a four-story office building totaling 102,048 square feet. The property was sold by Washington Real Estate Investment Trust (“WRIT”) for $14.3 million. 
 
Transwestern’s Institutional Commercial Group out of Washington, D.C. brokered the sale. 

The 72 percent leased multi-tenant office building was originally constructed in 1982. The property is located just south of the intersection of West Gude and I-270 in the North Rockville submarket.

According to Transwestern’s research affiliate, Delta Associates, the North Rockville submarket’s first quarter net absorption was 236,000 square feet on an annualized basis. Furthermore, the property’s location is within close proximity to vast amenities and a highly educated employee base, which will aid in returning the property to full occupancy.

Current tenants of 1700 Research Boulevard include Westat, Inc., Peters, Kearney & Associates and Apatoff I Peters, LLC, Caelum Research Corporation, TeleBright, JDG Associates and BrightView Senior Living.

ABOUT TRANSWESTERN’S INSTITUTIONAL COMMERCIAL GROUP
Transwestern’s D.C. Institutional Commercial Group focuses on institutional investment services throughout the Washington, D.C. region, providing their clients with exceptional service and market knowledge.  Over the past 12 months, the Institutional Commercial Group’s transactions have totaled over $1 billion in aggregate value.  Their success is a direct result of their detailed underwriting and keen understanding of the local, national, and international investment communities.  For more information on the Institutional Commercial Group, please visit www.Transwestern-ICG.net or call Gerry Trainor, Executive Managing Director at 202-775-7091.

ABOUT TRANSWESTERN
Transwestern is a privately held operating company specializing in commercial real estate services, investment and development.  The firm’s fully integrated approach delivers value to owners, investors and users of commercial real estate through innovation, penetrating market intelligence and legendary service delivered by teams of local experts.  Transwestern has product specialties in office, industrial, retail, multifamily and healthcare and is an industry leader in sustainability solutions and in market research through its affiliate, Delta Associates.

Please visit www.transwestern.net or follow us on Twitter at @Transwestern.​