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Nine-Building Office/Flex Portfolio Sells

SILVER SPRING, MD-Nine office/flex buildings at the 250-acre WesTech Business Park change hands. The portfolio, which has an occupancy level of about 97%, features 366,500 sf of space.

By Barbra Murray | Updated on February 15, 2006

SILVER SPRING, MD-PS Business Parks Inc. has acquired ownership of nine buildings within the 250-acre WesTech Business Park. Grosvenor sold the multi-structure portfolio, which consists of 366,500 sf of space.

William E. Kaye, Bruce Strasburg and Steen Watson of Trammell Crow Co. were the sole brokers on the deal. As part of WesTech Business Park–which currently features 500,000 sf of space, with the option to accommodate and additional 700,000 sf–the group of buildings boasts an easily accessible location off Route 29 in the North Silver Spring submarket. The 97% occupied portfolio includes: the 55,700-sf Allegany at 2221 Broadbirch; the 32,200-sf Crestridge at 12041 Bournefield; the 39,200-sf Dorchester at 12200 Plum Orchard and the 32,600-sf Garrett I at 11941 Bournefield. Also included are Garrett II with 46,200 sf at 11921 Bournefield, Garrett III with 63,800 sf at 11900 Bournefield; the 26,200-sf Harford I at 2331 Broadbirch; the 29,300-sf Harford II at 2301 Broadbirch; and the 38,100-sf Talbot at 12120 Plum Orchard.

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