New Owner Of Bethesda Office Complex Inks Renewal, Expansion Deal With Anchor Tenant
Three months after acquiring a two-building Bethesda office complex, Bridge Investment Group has just scored a big leasing win.
The owner renewed its lease with the Henry M. Jackson Foundation at 6720 Rockledge Drive, expanding its footprint by 22K SF for a total of 168K SF. Cushman & Wakefield's Ben Powell and Gwen Fraker represented Bridge in the deal.
Salt Lake City-based Bridge acquired the property, previously named Piedmont Pointe, from Piedmont Office Realty Trust in January as part of a 14-building portfolio sale that Piedmont says totaled over $430M. Piedmont also sold NASA's Southwest D.C. headquarters last year to Korean investors for over $350M.
The new owner has since renamed the Bethesda complex Skybridge Towers. Bridge is launching a major renovation that will include two new conference centers, a co-working space and a 9K SF amenity center with a lounge, a coffee bar, a gaming area and an indoor/outdoor bar.
The buildings were developed in 2007 and 2008 by Rockville-based Opus East, and Piedmont acquired them soon after delivery. The property remained vacant until 2010 when Piedmont signed the Henry M. Jackson Foundation, which moved its headquarters from Rockville, for 125K SF.
The property is part of the Rock Spring office park, where Lockheed Martin and Marriott International are headquartered. The hotel giant plans to depart in 2022 for its new Downtown Bethesda headquarters, leaving the park with a major vacancy.
