[IMGCAP(1)]ROCKVILLE, MD-The JBG Cos. are buying out their partner, the Blackstsone Group, in two Rockville holdings. The firm has recapitalized Rockwall I & II, two class A buildings that total 345,885 sf.

The buildings are located at 11400 Rockville Pike and 5515 Security Ln. in the North Bethesda submarket. Paul Collins, Bill Collins, Drew Flood and James Cassidy of Cassidy & Pinkard Colliers arranged the recapitalization.

[IMGCAP(2)]According to the Cassidy & Pinkard Colliers website, Rockwall I & II are 161,260 sf and 184,721 sf, respectively. Rockwall I is 96% leased. The buildings are located adjacent to a new retail and residential development JBG has under construction. The 650,000-sf project will have a Whole Foods, an LA Fitness Club and 400 residential units–all of which are expected to serve as an amenity base for the Rockwall I & II.

A close-in submarket to the District, Rockville is fairing well, considering the tightening commercial real market. Recent transactions include a 230,000-sf lease renewal by Lockheed Martin I, located at 9211 Corporate Blvd., and Lockheed Martin II located at 9221 Corporate Blvd. The buildings are owned by Piedmont Realty. Also, in February an empty office building traded hands for $24.1 million, or $230 per sf. Carr Properties purchased the 104,782-sf building, called Woodmont Place, from the Brookfield Real Estate Opportunity Fund.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.