Washington REIT continues suburban exit with four disposals

Washington REIT has disposed of a four property portfolio to Brookfield Property Partners for an undisclosed price. The properties, 6110 Executive Boulevard, West Gude Drive and 600 Jefferson Plaza in Rockville, MD, and Wayne Plazain Silver Spring, MD., total 702,610 sqf and are currently 90 percent leased. High profile tenants include Comcast, George Washington University, State of Maryland, Federal Realty Investment Trust, Henry M. Jackson Foundation, KAI Research, Inc., Research Triangle Institute and Lockheed Martin. Cushman & Wakefield Represents Washington REIT in the office investment sale.

“This sale is part of Washington REIT’s ongoing migration out of suburban offices and into more urban assets,” said Paul Collins, Cushman & Wakefield Vice Chairman. “The heavily multi-tenanted nature of these assets along with the repositioning opportunity is an ideal fit for Brookfield, which has an excellent track record with these types of assets.”