Roadside Development and Hudson Bay Capital have acquired Bethesda Towers, a roughly 600,000 SF, three-building office campus in downtown Bethesda.
The property, located at 4330 East-West Highway, sits in a prominent transit-connected location near Bethesda Row, the Capital Crescent Trail, Bethesda Metro Station, Marriott International’s global headquarters, NIH, Suburban Hospital, and other major employers. BizJournals reports thenproperty has an assessed value of roughly $86 million, but a sale price is not yet known.
Roadside, a Washington, D.C.-based real estate investment and development firm known for retail-driven mixed-use and adaptive reuse projects, said it plans to strategically reposition the Bethesda Towers campus over time. The firm pointed to its experience with projects such as City Ridge in Northwest D.C. as part of the vision for the property…