ROCKVILLE, MD-Relying on the assistance of Cassidy & Pinkard, Realty Associates Fund III has sold the 107,200-sf office building at 1901 Research Blvd. to Goldstar Real Estate Fund I LP. The site includes a pad 3,000-sf pad building.

Financial terms of the transaction have not been disclosed. However, judging by the property’s current assessed value of $19 million, the seller–having acquired the property 10 years ago for $11.5 million–has, more than likely, walked a way with a profit nearly equal to or greater than the size of its original investment.

Completed in 1989, the class A office structure and the adjacent pad building occupy a total of 6.7 acres near the intersection of I-270 and Gude Dr. in the North Rockville submarket. At the time of the transaction 1901 Rockville was 89% occupied by 23 tenants, including law firm Samek, McMillan & Metro PC, which occupies nearly 9,000 sf, and the Greater Washington Sleep Disorder Centers, Inc., which has an 8,000-sf space.

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