2008
Office Building Brings Highest Price Ever
$135 Million Sale of Artery Plaza in Bethesda, Maryland
Washington, DC - The Artery Group annouced today that it closed the sale of Artery Plaza, an 11-story, Class A office building and 800 -space parking garage in Bethesda, Maryland.
The HFF investment sales team was led by senior managing directors Jim Meisel and Dek Potts and director Andrew Pulliam who marketed the property exclusively on behalf of the seller, Artery Group, LLC. JBG Companies purchased Artery Plaza free and clear of debt for $135 million.
Artery Plaza has 275,191 square feet of office space that is 94% leased to tenants including Linowes & Blocher law firm, Cambridge Information Group, PNC Financial, University Research, Edens & Avant, Greystone Servicing Corporation and The Artery Group. The property is located at 7200 Wisconsin Avenue two blocks from the Bethesda Metro Station and adjacent to Bethesda Row, a 280,000 square foot retail development in downtown Bethesda.
Headquartered in the heart of Bethesda, Maryland, The Artery Group is a locally-owned and managed company with over 45 years of experience in real estate development. Its diversified portfolio of homes, rental apartments, commercial office buildings, hotels, retail space and town centers have helped shape Maryland, Virginia, and the District of Columbia during the region's dramatic growth over the last four decades.
Sharon Tyler
HR Manager
Tel: 301-961-8232
Fax: 301-961-8032
E-mail: styler@arterygroup.com
www.arterygroup.com
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