East Coast REIT makes $94M purchase

Washington Real Estate Investment Trust recently acquired West Gude Office Park, The Ridges and Crescent office buildings in Maryland for $94 million.

Totaling 442,467 square feet, the buildings are located in Montgomery County, Md.

West Gude, which consists of four multistory office buildings totaling 289,491 square feet, has a tenant base of technology firms and educational institutions and is located in Rockville.

The Ridges, a three-story medical office building, and The Crescent, two single-story office buildings, total 152,976 square feet and are located in Gaithersburg.

The entire portfolio was 95.6 percent occupied at the time of sale.

WRIT is a self-administered equity real estate investment trust investing in properties in the greater Washington/Baltimore metropolitan region.

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