The Donohoe Companies and USAA Real Estate announce the acquisition of 7101 Wisconsin Avenue, a 230,904-square-foot, Class A office property situated in Bethesda, Maryland, a suburb of Washington, D.C.
Holliday Fenoglio Fowler, L.P. (HFF) marketed the property on behalf of the seller, a joint venture of Brandywine Realty Trust and Allstate Investments, and procured the buyer, a joint venture between The Donohoe Companies and USAA Real Estate. The asset was sold free and clear of existing debt.
The sale comes after the recent announcement that Marriott – the world’s largest hotelier – will move its headquarters to downtown Bethesda, reinforcing the location as a globally renowned submarket. 7101 Wisconsin is situated a quarter mile from the Bethesda Metrorail Station, offering Red Line service to downtown Washington, D.C., and Bethesda Row, featuring 60 stores and restaurants in 533,000 square feet of retail space.
A successful repositioning in 2015 rebranded the asset with a new entrance façade, new lobby, state-of-the-art conference facility and renovated common areas, resulting in over 140,000 square feet of leasing activity and two new anchor tenants: The Donohoe Companies and Miller & Long Co., Inc. The property is currently 97 percent leased.