The JBG Companies have purchased a 228,020-square-foot Class A office building located in Rockville, Maryland from Morgan Stanley for nearly $12 million less than what the financial services firm paid for the property three years ago. JBG is paying $43.5 million for the property known as One Choke Cherry, a 228,020 square foot property off of I-270 built in 2004. JBG had originally developed the building then sold it to Morgan Stanley in 2005 for $55 million according to a CPN article.
The property is fully leased to the General Service Administration - Substance Abuse and Mental Health Services Association through 2014 according to CoStar information. SNSPF Interim Finance B.V., a Netherlands-based lender, provided financing. Paul Collins, Bill Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy & Pinkard Colliers represented Morgan Stanley.
For more news and information, visit Blumberg Capital Partners.
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