Montrose Office Compound Meets its New Owner

ROCKVILLE, MD-Montrose Office Park, a 185,000-sf multi-structure compound, has been traded from Glenborough Realty Trust’s portfolio to that of TA Associates Realty in a recent transaction. Financial details of the deal–which was handled by McShea & Co. Inc. on the buyer’s behalf, and by Holliday, Fenoglio and Fowler LP for the seller–have not been disclosed, but Maryland Department of Assessments and Taxation lists the property’s 2004 assessed value at about $27 million.

Situated on 18.5 acres, the four-building campus carries the addresses of 3200-3206 Tower Oaks Blvd. at the base of the I-270 corridor. The structures are all four-stories tall and range in size from 45,000 to 48,000 sf. “With 55,604 sf currently vacant, Montrose Office Park represents an excellent opportunity to create value in a well located property,” Jack McShea of McShea & Co. Inc. tells GlobeSt.com. McShea is on board to handle leasing and management activities at the office park.