ROCKVILLE, MD-JBG Cos. sold two office building here in separate transactions for a total of $48.6 million. NGP V Fund LLC was the buyer of the properties, which total 148,742 square feet. HFF's Jim Meisel, Dek Potts, Andrew Weir and Stephen Conley represented JBG in the transaction.
The buildings are located near the intersection of Twinbrook Parkway less than one half mile from the Twinbrook Metro Station. 12420 Parklawn Dr. is a four-story, 93,014-square-foot office building that is leased to the federal government through December 2020. 5630 Fishers Lane is a two-story, 55,728-square-foot building that is leased to the government through February 2023. Last September the Food and Drug Administration inked a ten-year renewal in the building.
JBG began marketing the buildings last October during the government shut down.
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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.
