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ROSSI CRE Closes 8 in Germantown

ROSSI Commercial Real Estate is proud to announce that Brian Rossi has completed the 8th transaction in Germantown, Maryland on behalf of Core Development Group, Landlord at 12800 and 12850 Middlebrook Road, also known as Trevion Corporate Park.  Of the eight companies, two are medical practices and six are professional services and IT office tenants that have moved into the buildings.  The market in Germantown, Maryland, and Upper Montgomery County as a whole, has been very soft for office and medical leasing and sales activity for many years in a row.  For the most part, Germantown continues to be a tenant’s market plagued with significant vacancies.  Current vacancy of office and medical buildings in Germantown is approximately 18% overall.  One boost to the areas leasing prospects come in the form of a major new hospital that just opened on October 1 in Germantown.  Holy Cross Hospital just opened a 237,000 square foot hospital and that is certainly drawing many medical practices and related services to the area.

Brian Rossi, President of ROSSI Commercial Real Estate, stated, “We’ve been fortunate to win so many of the tenants looking in the Germantown market for several reasons.  For starters, the two buildings are among the nicest in Germantown at the best location in relation to the majority of shopping, amenities and the new hospital, and also because of the building owner is local and easy to work with. Beyond that, we have a top notch marketing program to spread the word about these buildings and other opportunities of interest to local businesses via our social media platform, especially on Facebook and Twitter. Facebook.com/rossicre and @rossicre are followed by a lot of local businesses, people and news organizations.”

One interesting twist to normal market availability is that ROSSI CRE began offering condo units for sale at one of the buildings, 12800 Middlebrook Road, in addition to the leasing options.  With the opening of the hospital, there is new-found interest in Germantown from medical practices and some other types of businesses, some with a higher level of interest in ownership versus leasing.  Holy Cross Hospital monument sign and bldg 9-22-2014 low Res

This condo sale offering represents a much rarer opportunity in Germantown compared to available lease space which is bountiful.  In addition to a dental practice, two medical practices, a primary care physician and gynecology practice, have purchased units on the second and fourth floors at 12800 Middlebrook Road, while the remaining six recent transactions were leases in both buildings.  According to Brian Rossi, several condo sales are pending and within the next six months, he anticipates closing six more transactions which would bring the building to nearly 100% occupancy either by lease or sale.

For more information on ROSSI Commercial Real Estate, visit www.rossicre.com and click the properties tab for more information on Trevion corporate and medical buildings.