Monday, August 27, 2012

BETHESDA AIR RIGHTS CENTER ON SALE FOR $257 MILLION

TIAA-CREF has put one of downtown Bethesda's most valuable properties on the market.  Cassidy Turley will handle the potential sale of the Air Rights Center for the owners.

This is the third iconic Bethesda property to be put up for sale this year.

It would be a shock, but nothing is shocking after the Montgomery County Council proposed the county seize, and demolish, one or more of the complex's towers through eminent domain earlier this year.  The suggestion went nowhere, and the council eventually resolved to remove the Capital Crescent Trail from the future Purple Line tunnel under the Air Rights Center.

But that brief moment suggested some in the development community may covet the site, for a denser, mixed use project.

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