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6555 Rock Spring Drive

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

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:

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

Merrill Turnbull

Broker

2 deals

Broker

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