Holliday Fenoglio Fowler, L.P. (HFF) announces the $35.5 million sale of 7316 Wisconsin, a 69,601-square-foot office building in downtown Bethesda, Maryland.
The HFF team represented the seller, The Chevy Chase Land Company, and procured the buyer, 7316 Wisconsin LLC of Saul Centers, Inc.
7316 Wisconsin is a five-story office building that is leased to 10 tenants. The property is situated in the heart of Bethesda’s Live-Work-Play environment and is just steps from Bethesda Row, providing tenants premier amenity access to more than 60 retail, dining and entertainment options. Additionally, 7316 Wisconsin is positioned close to the amenities of Woodmont Triangle and the ongoing nearby developments, 7272 Wisconsin Avenue and 4747 Bethesda Avenue. 7316 Wisconsin is less than two blocks from the Bethesda Metro Station, which provides access to downtown Washington, D.C. and the greater Washington, D.C. region. Furthermore, the property is located directly across from the future Bethesda Purple Line station, which will connect Bethesda with Silver Spring, College Park and New Carrollton in addition to connecting the Red, Green and Orange Metro Lines.
The HFF investment advisory team representing the seller included senior managing directors Jim Meisel and Andrew Weir, directors Matt Nicholson and David Baker and executive managing director Stephen Conley, a licensed Maryland real estate broker.
About The Chevy Chase Land Company
Since 1890, The Chevy Chase Land Company has owned, managed and developed exceptional office, retail and residential properties throughout the Washington, D.C. region. The firm is committed to continuing its proud tradition of leading the region’s transit-oriented development while taking a collaborative, community-first approach to investing in our local neighborhoods. The Chevy Chase Land Company: Community. Connectivity. Continuity. To learn more, please visit: www.chevychaseland.com.
About 7316 Wisconsin LLC/Saul Centers, Inc.
Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 59 properties which includes (a) 49 community and neighborhood shopping centers and six mixed-use properties with approximately 9.2 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area. For more information, visit www.saulcenters.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
