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National Institutes Of Health Renews 123750 SF Office Lease At 6555 Rock Spring Drive

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LEASED
Joe Judge
William Ruppe
+ 3

Maryland

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Office123,750 SF
Leased 07/29/2024
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Property Image
LEASED

National Institutes Of Health Renews 123750 SF Office Lease At 6555 Rock Spring Drive

6555 Rock Spring Drive

See Similar Deals
Office123,750 SF
Leased 07/29/2024
Joe Judge
William Ruppe
+ 3
Contact now

Summary

MARYLAND
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:123,750 SF
Transaction Type:Lease

The property involved in this transaction is located at 6555 Rock Spring Drive in North Bethesda, MD. It consists of an office space measuring 123,750 square feet. The lease details indicate that this asset meets the infrastructure needs of the tenant, the National Institutes of Health, including redundant power sources and a private optical network.

Summary of transaction details:

This lease renewal reflects the commitment of the National Institutes of Health to remain at The Atrium at Rock Spring Park, ensuring their operational requirements are met for another decade. The representatives from Lincoln Property Company and GUV Commercial Real Estate played significant roles in facilitating this transaction.

Players

2 deals
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3 deals$40M volume(202) 719-5815
BROKER

William Ruppe
Lincoln Property Company
1 deal
BROKER


Brent Prossner
Lincoln Property Company
1 deal
BROKER

Details

LEASED
IMAGE: 07/29/2024 ADDRESS: 6555 Rock Spring Drive MARKET: North Bethesda, MD ASSET TYPE: Office ~ SF: 123,750 LANDLORD: MC Real Estate Partners TENANT: National Institutes of Health LANDLORD'S REP: Brent Prossner, Jae Lee, Merrill Turnbull & William Ruppe - Lincoln Property Company TENANT'S REP: Joe Callahan - GUV Commercial Real Estate & Joe Judge - JLL LEASE TERM: 10-year lease NOTE: The NIH renewed its 123,750-square-foot lease at The Atrium at Rock Spring Park in Bethesda for 10 years, with the rent undisclosed. The lease extension reflects the property’s capability to meet the NIH's infrastructure needs, including redundant power sources and a private optical network.

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Deal Type
Effective Rent (Annual)

$7,093,275.32

Total Lease Value

$70,932,753.24

Net Landlord Cash Flow$7,093,275.32