National Institutes Of Health Renews 123750 SF Office Lease At 6555 Rock Spring Drive
6555 Rock Spring Drive
Building Size
123,750 SF
Asset Type
Office
Closing
Jul 29, 2024
AI
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:
- Property Type: Office
- Transaction Amount: Undisclosed
- Lease Term: 10 years
- Landlord: MC Real Estate Partners
- Tenant: National Institutes of Health
- Landlord's Representative: Brent Prossner, Jae Lee, Merrill Turnbull & William Ruppe - Lincoln Property Company
- Tenant's Representative: Joe Callahan - GUV Commercial Real Estate & Joe Judge - JLL
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
Bethesda 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