East Coast office portfolio sells for $50M

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Transwestern's Washington, D.C., office brokered the acquisition of a three-building, 299,947-square-foot office portfolio comprised of space in Maryland and Virginia. The total value of the transaction was $50.9 million. The properties include: 1355 Piccard Drive, a 127,709-square-foot office building in Rockville, Md.; 1451 Rockville Pike, a 103,001-square-foot office building also in Rockville; and 2020 North 14th St., a 69,237-square-foot office building in Arlington, Va. Brascan, a developer and commercial property owner, purchased the buildings from a private investor. Transwestern Commercial Services is a privately held, full-service commercial real estate company. ...