East Coast REIT makes $94M purchase

Deal includes 7 office properties

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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. ...