ROCKVILLE, MD-BPG Management Co. LLC has sold a vacant office building here to Washington Property Co., a local investment firm, for $9.9 million, or $170 per sf. The 58,266 sf, two-story building, located at 15201 Diamondback Dr., was built in 1986 and occupied at one time by Nasdaq.

The transaction was brokered by Dek Potts and Jim Meisel, both from the Washington, DC office of GVA Advantis.

Recent comparable sales in Rockville include 4 Research Pl., a 77,000-sf building that traded at $165 per sf. 2 Research Pl., a 45,000-sf office building, also sold recently for $180 sf. They were 47% and 65% occupied at the time of sale, respectively.

Rental rates for North Rockville, the building’s submarket, range from $26 per sf to $27 per sf overall; class B buildings such as 15201 Diamondback Dr. typically receive $24.50 per sf. At a 11.2% vacancy rate, North Rockville is in a slightly slower growth mode than the rest of Montgomery County.

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