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9950 Medical Center Drive, ...

Thor Equities Group Acquires Office Property In Rockville, MD For $45M
SOLDOffice

Thor Equities Group Acquires Office Property In Rockville, MD For $45M

9950 Medical Center Drive, Rockville, Maryland 20850, United States

$45,000,000

$194/SF

Building Size

231,000 SF

Asset Type

Office

Closing

Jan 11, 2022

AI

Located at 9950 Medical Center Drive in Rockville, MD, this office property features a total of 17 acres. The transaction took place on January 11, 2022, with a sale price of $45,000,000. The property spans 231,000 square feet, resulting in a price per square foot of $195.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $45,000,000
  • Address: 9950 Medical Center Drive, Rockville, MD

The buyer in this transaction was Thor Equities Group, represented by Jack Sitt. Tommy Cleaver from CBRE acted as the seller's representative. The deal was closed in a successful transaction, highlighting the expertise of both the buyer and seller.

Players

Tommy Cleaver

CBRE

Broker

$115.5M

vol

4 deals

Broker
Jack Sitt

Jack Sitt

Thor Equities

Buyer

$328.5M

vol

8 deals

Buyer

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

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93