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490,000-SF Office Complex Trades

SILVER SPRING, MD-Station Square, the 490,000-sf multi-structure office complex at the core of the Downtown area here, comes under new ownership. Hines and CalPERS acquires the 490,000-sf site.

By Barbra Murray | Updated on November 22, 2005

SILVER SPRING, MD-Hines, acting on behalf of National Office Partners LP–a partnership between the real estate services firm and public pension fund CalPERS–acquired the 490,000-sf three-building office complex known as Station Square. The seller was More & Associates Inc.

The price tag for the transaction has not yet been disclosed by the parties involved; however, the three buildings have an aggregate assessed value of $68.6 million, according to Montgomery County real estate records. CB Richard Ellis Institutional Group represented the seller, while Hines repped NOP.

Station Square sits at the core of the Downtown area not far from the Capital Beltway. The complex is right across from the new headquarters of Discovery Communications and, while it features its own underground parking facility, the property also sit in a location next to a 1,800-space public parking structure.

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