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ROCKVILLE, MD-Ownership of Park Plaza II has changed hands in a $35-million deal. Washington, DC-based Columbia Equity Trust Inc. purchased the 126,500-sf office facility from Opus East LLC in an off-market transaction with funds acquired through its recently closed IPO.

The deal also involves a ground lease that is valid for the next 71 years, with options. Developed in 2001, the building and the nearly three-acre parcel it occupies have a total current assessed value of $17.2 million.

Carrying the address of 2099 Gaither Rd., Park Plaza II sits in the North Rockville submarket, just off Interstate 270 and near the 430-acre King Farm mixed-use property. The six-story structure is leased to maximum capacity and features no significant roll-overs until 2011. Among the building occupants are lead tenant Institutional Shareholder Services, SI International and Opus East.

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