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Project Profiles

Bethesda Towers

Bethesda, MD

PROPERTY SUMMARY

  • ADDRESS:4330-4350 East-West Highway
  • MARKET:Bethesda, Maryland
  • YEAR BUILT:1973-78
  • RENTABLE AREA:532,014 Square Feet
  • STORIES:11
  • AVG. FLOOR PLATE:16,959 Square Feet
  • PARKING:2/1,000 Square Feet Parking Ratio

Bethesda Towers is a 540,000 square foot three building property in Bethesda, Maryland. Moore purchased the property in 2005, with vacancy approaching 55% (300,000 SF). The façade was coming off and the project had image issues in the brokerage community.

Moore’s strategy was to make structural and aesthetic improvements, build speculative suites, and offer turnkey leases.

Bethesda Towers subsequently captured 85% of all new leases signed in Montgomery County during 2006. Since 2007 Bethesda Towers has maintained approximately a 95% level of occupancy.

Moore out-performed leasing projections and completed the five year plan within two years. The project’s stabilized returns provided an attractive opportunity for investors to hold the property during the economic downturn.

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PROPERTY SUMMARY

  • ADDRESS:4330-4350 East-West Highway
  • MARKET:Bethesda, Maryland
  • YEAR BUILT:1973-78
  • RENTABLE AREA:532,014 Square Feet
  • STORIES:11
  • AVG.
    FLOOR PLATE:16,959 Square Feet
  • PARKING:2/1,000 Square Feet Parking Ratio