Spitzer Buys One Bethesda Center in MD from JBG
Posted January 2, 2012
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New York investor and real estate developer Bernard Spitzer has purchased One Bethesda Center, a Class A office and retail complex at 4800 Hampden Lane in Bethesda, MD.
The asset is a 12-story office tower with a separate two-story retail and office building. The purchase price was not disclosed.
Eastdil Secured, led by Managing Director Nick Pappas, marketed the property on behalf of the JBG Companies.
"One Bethesda Center represents a perfect opportunity to participate in the growth of the Bethesda market, which may well be one of the most supply constrained submarkets in the Washington region," Pappas said in a statement.
One Bethesda Center is located near the Bethesda Metro stop and features a four-level below-ground parking garage. The office tower, which features a variety of terraces and a large number of windowed offices, is roughly 98 percent leased.
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