JLL Brokers $38.5 Million Loan Deal for Office Property in Rockville
JLL facilitated a $38.5 million loan deal for a 240,000 square foot office property located at 805 King Farm Boulevard, Rockville, Maryland 20850, United States.
JLL, one of the largest commercial real estate agencies in the world, recently facilitated a significant loan deal for an office property in Rockville, Maryland. The property, located at 805 King Farm Boulevard, was sold for a total price of $38.5 million. The office building spans an impressive 240,000 square feet, making it a substantial asset in the area.
The buyer and seller in this transaction have chosen to remain anonymous, but the deal was successfully completed with the assistance of JLL as the agency. JLL is known for its expertise in commercial real estate and has a strong track record of facilitating successful transactions.
The loan deal for this office property is particularly noteworthy due to the size of the loan and the value of the property. At a price of $160 per square foot, the property is considered to be a valuable asset in the Rockville market. The loan will provide the buyer with the necessary funds to complete the purchase and potentially make improvements to the property.
Rockville, Maryland is a thriving area for commercial real estate, with a strong demand for office space. The location of the property on King Farm Boulevard is highly desirable, as it offers convenient access to major highways and is surrounded by a variety of amenities. The area is home to numerous businesses and organizations, making it an attractive location for companies looking to establish a presence in the region.
The office building itself is a modern and well-maintained property. With 240,000 square feet of space, there is ample room for multiple tenants or a single large occupant. The property features a professional and welcoming lobby, as well as a range of amenities such as conference rooms, fitness facilities, and ample parking.
The successful completion of this loan deal is a testament to the strength of the commercial real estate market in Rockville, Maryland. Despite the challenges posed by the COVID-19 pandemic, the demand for office space remains high in this area. The loan deal facilitated by JLL demonstrates the confidence that lenders have in the market and the potential for a strong return on investment.
Overall, this loan deal for the office property at 805 King Farm Boulevard is a significant transaction in the Rockville commercial real estate market. The size of the loan and the value of the property highlight the strength of the market and the desirability of the location. With the assistance of JLL, the buyer will be able to complete the purchase and potentially capitalize on the strong demand for office space in the area.