Westech Business Park

Silver Spring, Maryland

Property Overview

  • Excellent transportation access via Route 29, the Capital Beltway (I-495/I-95) and the InterCounty Connector (ICC)
  • Daily on-site shuttle service for tenants to Silver Spring Metro Station and Downtown Silver Spring
  • On-site amenities include a deli with neighborhood amenities in close proximity to Westech Village Center and Orchard Shopping Center

Acquisition Details

  • Acquired 8 properties as a part of a 28-building portfolio in October 2019 for an allocated $35.4M
  • 8 buildings totaling 271,611 SF

Execution

  • Sold in three separate transactions between February and September 2022 totaling $55.9M
  • Executed new key leases with EagleBank and Capital Digestive Care and renewed several tenants
  • $20.5M gain over 3-year hold period
  • Capital Digestive Care’s new 22,000 square foot, state-of-the-art laboratory at Garrett II was the first GI specialty practice in the United States to be awarded the Roche Diagnostics Center of Excellence!

Details

Location

Westech Business Park
Silver Spring, Maryland