Donohoe Buys Its Bethesda HQ For $106M
Donohoe Cos. has teamed up with USAA Real Estate to acquire the Downtown Bethesda office building where the company recently moved its headquarters.
The JV has acquired 7101 Wisconsin Ave., a 230K SF office building in Bethesda, from a JV of Brandywine Realty Trust and Allstate Investments, Donohoe announced Thursday. HFF brokered the deal.
The building sold for a price of $105.7M, or roughly $458/SF, as first reported by the Washington Business Journal and confirmed by a Donohoe spokesperson.
Brandywine and Allstate completed a major repositioning of the building in 2015, putting in a new lobby, conference facility and entrance facade. This helped it secure 140K SF of leases, including Donohoe and Miller & Long Cos., bring the building to 97% leased.
The deal marks the second major Bethesda office sale this week. French investor AXA broke into the D.C. market with the $140M acquisition of Montgomery Tower, a 366K SF office building in the Bethesda Crossing complex, from MRP Realty.
