Atrium Building Sells for $14.2M

ROCKVILLE, MD-In a $14.2-million cash transaction, the Atrium Building switches owners from Advent Realty LP to Washington Real Estate Investment Trust. The 22-year-old office property, which underwent a renovation a decade ago and carries a current assessment value of nearly $12 million, offers 81,390-sf of space over three floors. Located off Rockville Pike at 6101 Executive Blvd., Atrium sits on a three-acre plot directly across the street from WRIT headquarters.

“With this property’s location in the highly sought after North Bethesda/Rockville sub-market, which attracts healthcare-related federal government agencies and related private, public and non-profit organizations, it will be a solid addition to WRIT’s portfolio,” company president and CEO Edmund B. Cronin Jr. says. While the building’s occupancy currently hovers just below the 50% mark, it will be able to boast 92.5% occupancy by October when the National Institutes of Health moves into its 37,200-sf space.