Rare Germantown Office Trades for $237 Per SF

GERMANTOWN, MD-An office building has traded here for $237 per sf, or $5 million. Located at 20111 Century Blvd., the 21,108-sf office building was fully occupied, with 77% of the tenants–including Davita and Stephen Gould Corp.–qualified as investment grade.

Andy Stape, Joe Friedman and Mat Adler of Transwestern Bethesda-based Asset Investment Sales Group brokered the sale, representing Century South Investors LLC in the transaction. The building traded to 20111 Century Blvd. LLC.

A single-story office building built in 2003, 20111 Century Blvd. is on I-270 at Germantown Road. Both the buyer and seller are local, private firms, Adler tells GlobeSt.com. “The seller was selling off several office assets in the Baltimore-Washington area. This particular building it sold off individually.”