4800 Montgomery Lane Bethesda, MD
Services Provided by Donohoe:
- Buyer’s Representative
The asset is an 11 story, 146,000 square foot office building built in 1988 and located in Bethesda, Maryland. It is prominently positioned 1 block from both the Red Line and future Purple Line Metro stations and is adjacent to Bethesda Row, the area’s premier dining and shopping destination.
The property was offered for sale through a full-scale marketing outreach by an international brokerage firm. Due to the building’s prominent location, tenant mix and 90% occupancy rate, there were many very qualified bidders to acquire the asset. Further, the seller was an institutional owner based in California with little flexibility and no knowledge of Donohoe Real Estate Services or our client, which are both local, Washington, DC based entities.
DRES was able to quickly mollify the Seller’s concerns about our client’s capabilities to close the transaction on acceptable terms. Further, utilizing tax free equity through the sale of two other assets for this client through a 1031 Exchange process, DRES structured a favorable offer meeting the return hurdles of our client, while also providing the seller with the highest offer price. Ultimately, after a series of competitive rounds, DRES’ client was the successful bidder and won the opportunity to place the asset under contract. During the due diligence phase, DRES managed a comprehensive process that verified the investment grade worthiness of the property, and later, led its investor through an efficient and expedited closing. Today, DRES manages and leases 4800 Montgomery on behalf of a satisfied client.