Altus Realty Acquires Research Boulevard Office Building In Rockville, Md For $25.5M
1550 Research Boulevard, Rockville, Maryland 20850, United States
$25,500,000
$283/SF
Building Size
90,000 SF
Asset Type
Office
Closing
Jul 13, 2022
About this deal
AI
The office property located at 1500 & 1550 Research Boulevard in Rockville, Md was recently sold in a transaction. The property spans approximately 90,000 square feet and was sold at a price of $25,500,000. This equates to a price per square foot of $283.
Summary of transation details
- Property Type: Office
- Transaction Amount: $25,500,000
- Address: 1500 & 1550 Research Boulevard, Rockville, Md
- Market: Rockville, Md
The buyer of this property was Altus Realty, while Westat acted as the seller. The deal was facilitated by CBRE brokers Tommy Cleaver, Dan Grimes, and Stuart Kenny.
Players
Rockville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93