Carr Properties today announced it has broken ground on 4500 East West Highway, the first office property to be built in downtown Bethesda, MD, in 12 years and one of a very few bank-financed speculative office projects in the country.
As reported by CoStar in August, Carr secured a $57 million loan for the project
from Wells Fargo, which would be impressive enough even if construction wasn’t moving forward without a major tenant in tow.
The nine-story, 220,400-square-foot office, located just a few hundred feet from the entrance of the Bethesda Metro Station, is pre-certified LEED Platinum and is expected to deliver in June 2014. The building will feature more than 13,000 square feet of street-level retail set above four levels of below-grade parking and a 4,800-square-foot plaza.
The glass box façade building will include 27,700-square-foot floor plates, a 4,500-square-foot rooftop terrace overlooking a green roof, a catering kitchen and views of Bethesda extending toward northwest Washington, D.C. The building will also have a 2,600-square-foot executive fitness facility, a bike storage and repair facility and a 1,900-square-foot conference center.
Transwestern’s Phillip McCarthy and Keith Foery, executive vice presidents, and Jovi McAndrew, senior vice president, are leasing agents for the project.