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6120 Executive BLVD, Rockvi...

Abt Associates Leases 155,000 SF Office Space At 6120 Executive Blvd In Rockville
LEASEDOffice

Abt Associates Leases 155,000 SF Office Space At 6120 Executive Blvd In Rockville

6120 Executive BLVD, Rockville, MD...

Building Size

155,000 SF

Asset Type

Office

Closing

May 24, 2016

AI

Located at 6120 Executive Blvd in Rockville, MD, the property involved in the lease transaction is Executive Plaza South, a Class A office building completed in 1985. This 8-story building offers 155,000 square feet of office space and features 610 parking spots. The property was fully renovated in 2014 and is situated in a prime location with easy access to major transportation routes.

Summary of transaction details:

The lease of Executive Plaza South was facilitated by Cushman & Wakefield Senior Director Kevin McGloon along with NGKF representative Phil Giunta on behalf of the tenant, Abt Associates. Owners Angelo Gordon & Co. and Monument Realty were represented by Robert Dickman of Avison Young in this transaction. Abt Associates' decision to secure this space in a thriving district like Pike & Rose indicates a strategic move to access top-tier amenities and talent, reinforcing their commitment to growth and innovation.

Players

Kevin McGloon

Cushman & Wakefield

Broker

2 deals

Broker

Rockville Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93