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2101 Gaither Road, Rockvill...

Monday Properties Acquires Office Property In Rockville, Maryland For $43.6M
SOLDOffice

Monday Properties Acquires Office Property In Rockville, Maryland For $43.6M

2101 Gaither Road, Rockville, Maryland 20850, United States

$43,600,000

$163/SF

Building Size

266,077 SF

Asset Type

Office

Closing

Sep 7, 2022

AI

The office property located at 2099 & 2101 Gaither Road in Rockville, MD has been sold in a transaction. The property spans approximately 266,077 square feet and was sold for a total price of $43,600,000, resulting in a price per square foot of $164.

Summary of transaction details:

  • Property Type: Office
  • Sale Price: $43,600,000
  • Square Footage: 266,077
  • Price Per Square Foot: $164
  • Address: 2099 & 2101 Gaither Road, Rockville, MD
  • Market: Rockville, MD

The buyer for this transaction is Monday Properties, while the seller is Cliff Cummings. The deal was facilitated by Newmark, with representation from Jud Ryan, Ryan Cassidy, and Grant Marley.

Players

Jud Ryan

Newmark

Broker

$434.5M

vol

5 deals

Broker

Cliff Cummings

Monday Properties

Seller

$189.2M

vol

3 deals

Seller

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

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93