SILVER SPRING, MD–Locally-based Royco has acquired The Blackwell Building at 9600 Blackwell Rd. in Rockville, MD.
The property is 97% leased to six tenants with average lease term of 8.5 years. In April of 2015, True North Management Group purchased the building as part of its $548 Million True North Real Estate Fund III. It then went on to invest $5.2 million in leasing capital, which attracted a number of first generation tenants.
NKF's investment sales team of Jud Ryan and James Cassidy facilitated the sale of The Blackwell Building.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
