4800 Hampden Highway. Picture courtesy of Cushman & Wakefield
Spitzer Enterprises has completed the repositioning of 4800 Hampden Lane, a 185,000-square-foot workplace constructing in Bethesda, Md. The corporate bought the asset greater than a decade in the past from JBG Cos. for $90.3 million, in line with CommercialEdge knowledge.
The over $10 million capital enchancment plan was introduced in 2021. The property turned topic to a $67 million mortgage originated by CIM Group that very same 12 months, the identical supply exhibits.
The multimillion-dollar capital enchancment plan for the Class A constructing included repositioning of the asset, improve of the foyer, enhancement of the façade and the addition of recent facilities, together with a health middle, a convention middle and safe bicycle storage.
In-built 1986, the 12-story constructing has a metal body building kind and a masonry exterior. Often known as One Bethesda Heart, the property options a number of terraces, six high-speed elevators, 24-hour safety, onsite property administration, subterranean parking and managed entry. The midrise constructing has achieved LEED Silver certification.
The property is situated within the Bethesda submarket of the Washington D.C. metro, close to the intersection of Wisconsin Ave., Previous Georgetown Highway and East-West Freeway. An abundance of retail facilities, eating choices and leisure venues are situated inside strolling distance of the workplace constructing. The close by Bethesda Metro Station affords entry to the crimson line of the Washington Metro speedy transit system, in addition to a number of bus routes.
Ben Powell, Michael Katcher and Gwen Dominguez of Cushman & Wakefield are the unique leasing brokers for the property.
