Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BETHESDA, MD-Some eight months after it acquired the sister building, Atlanta-based Piedmont Office Realty Trust purchased Rock Spring II from developer Opus East. The two buildings have been renamed Piedmont Point I and II. The price was not disclosed.

Located on Rockledge Dr., the two eight-story buildings are connected totaling approximately 407,000 sf. They are currently empty. Asking rates will be in the low $40s per sf, Raymond Owens, executive vice president of Capital Markets for Piedmont, tells GlobeSt.com. “As we lease up these buildings, their long term value will be realized.”

Piedmont acquired the buildings with a buy-and-hold mindset. The company wants to increase its footprint here and is positioning itself for the long-term. Another factor in the acquisition is that it allows Piedmont to leverage its operating capabilities in the area.

Jones Lang LaSalle will market leasing opportunities on behalf of Piedmont. Opus East was represented by Eric Berkman and Steven Gichner of Grubb & Ellis.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.