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ROCKVILLE, MD-Metro Executive Park has been sold for $17 million in a co-investment deal to New York, NY’s The Patronis Group and Tysons Corner, VA’s Nanjemoy Investment LLC. The two-building complex occupies an 8.6-acre plot and offers about 123,000 sf among the nearly identical three-story structures. Consortium II, a part of The Bernstein Companies investment fund, was the seller.

Located on Crabbs Branch Way in the high-tech and biotech industry rich area of the I-270 Corridor, the property also offers enough space for the placement of another building as large as 79,000 sf in size. “The [area's] growth has been tremendous and Nanjemoy is well positioned to take advantage of the opportunity,” Patronis principal David Young says of the Montgomery County acquisition.

Consortium Two acquired the structures, built in 1986 and 1988, in 1999 from Advent Realty Limited Partnership for a total of $13.3 million. Holliday Fenoglio Fowler marketed the property and company associate director Collins Ege tells GlobeSt.com that Metro Executive was originally marketed in a portfolio with another building, the 68,000-sf Germantown Center, for a total of $31.5 million.

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