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44,500 SF Office Bldg. Fetches $11M

ROCKVILLE, MD-Ownership of the office building at 6006 Executive Boulevard changes hands as Philadelphia, PA-headquartered RAIT Investment Trust acquires the property from JBG/JER Twinbrook LP in a $10.6 million transaction.

By Barbra Murray | Updated on October 23, 2002

ROCKVILLE, MD-In a deal valued at $10.6 million, the nearly four-decade old office building at 6006 Executive Boulevard has gotten a new owner. Philadelphia, PA-based RAIT Investment Trust acquired the 44,500-sf property from JBG/JER Twinbrook LP for $238 per-sf.

This transaction marks the third change in the low-rise structure’s ownership in the last eight years. According to Montgomery County records, it sold for $3.2 million in 1994 and for $8 million in 1998. The property carries a current assessment value of nearly $8.2 million.

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