Washington Property Co. Inks Lease at DC-Area Building – What is a Ground Lease?

, Washington Property Co. Inks Lease at DC-Area Building – What is a Ground Lease?, Robert Khodadadian

1390 Piccard Drive. Image courtesy of Transwestern

Washington Property Co. has inked a 36,828-square-foot lease at 1390 Piccard Drive, a 101,853-square-foot office building in Rockville, Md. Cushman & Wakefield negotiated on behalf of the owner, while Transwestern represented the tenant, The Treatment and Learning Centers.

A non-profit organization specializing in speech and language therapy, counseling, tutoring and other services to children and adults with differing abilities, the new tenant will relocate and expand its operations in the area.

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Built in 1982 and renovated in 2007, the three-story property features 40,592-square-foot floor plates, controlled access and 336 parking spots, according to CommercialEdge. Situated on a 5-acre lot, the office building is close to interstates 270 and 370. The site is 11 miles from Bethesda, Md., 17 miles from Washington, D.C. and within 42 miles of Baltimore.

The property’s tenant roster includes Barrow Wise Consulting, Eichberg Construction and InfoStructures, which operates its corporate headquarters at the location, according to the same data provider. Transwestern Senior Vice President Guy Copperthite worked on behalf of the tenant, while Cushman & Wakefield’s Executive Managing Director Peter Rosan and Executive Director Kevin McGloon represented the landlord.

Recent office deals in metro DC

Earlier in February, The Chevy Chase Land Co. commenced the renovation of 2 Bethesda Metro, a 290,318-square-foot Class A office building. Cushman & Wakefield serves as the exclusive leasing agent for the property, which was recently LEED Gold certified.

In September 2022, the brokerage represented Finmarc Management Inc. in securing an 11-year, full-building lease at 8000 Grainger Court. The building is part of Virginia 95 Business Park, an 750,000-square-foot office and industrial campus in Springfield, Va.

The post Washington Property Co. Inks Lease at DC-Area Building appeared first on Commercial Property Executive.

 Brokerage, Mid-Atlantic, News, Office, Washington D.C., Cushman & Wakefield, Transwestern, Washington Property Company 

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