Transwestern Commercial Services Phil McCarthy and Keith Foery represented Social & Scientific --the terms of which have not yet been disclosed--while property owner Atlantic Realty relied on internal broker Carl Taylor. The firm's commitment and leases from six other companies totaling 27,200 sf resulted in 8757 Georgia Ave. being nearly fully leased. Atlantic is marketing the remaining bit of office space at $25.25 per sf.
"Just four years ago the building was 100% vacant and in need of a major renovation, but it had a great location with easy access and convenient transportation in a dynamic, up-and-coming, close-in submarket," says Atlantic president David A. Ross. The owner submitted the 14-story property to a $20 million renovation that was completed in 2001. "Now, the property is nearly 100% leased, demonstrating the strength of a Downtown Silver Spring address."
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