ROCKVILLE, MD-Robin Williams and DeanSigmon, senior vice presidents ofTranswestern’s Mid-Atlantic multifamily group, areset to start marketing two properties, both in MontgomeryCounty, they tell GlobeSt.com in anexclusive interview. One is in Wheaton, a tiny enclave 10 or somiles from the District that has little new supply in the pipeline.The other is in Rockville, where competition is heavier.
No matter though. Interest in multifamily is so high in suburbanMaryland that Williams and Sigmon are expecting healthy trades forboth properties.
The first asset, Glenmont Crossing, is a199-unit garden-style community with townhouse units, a uniqueoffering for this submarket, Sigmon says. The sellers areBuvermo Investments and Abbey RoadProperty Group. The property is also transit-friendly,close to the Glenmont metro stop. “Wheaton has some of strongestfundamentals in rent growth, and there have been little to noconcessions in the submarket unlike elsewhere in MontgomeryCounty,” Sigmon says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
