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:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: Abt Associates
- Square Feet: 155,000
- Address: 6120 Executive Blvd, Rockville, MD
- Market: Rockville
- Tenant's Rep: Kevin McGloon (Cushman & Wakefield), Phil Giunta (Newmark)
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
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