A shell company, Hampden Lane Project, LLC, is the official purchaser. The sale price was $22 million. WPC is now in the catbird seat. It can redevelop the AOTA site. It can assemble the AOTA property with the WPC headquarters building directly adjacent to it. It can assemble both of those properties with the Douglas Development property (former Pines of Rome/Tommy Joe's buildings) that is contiguous with the AOTA and WPC properties. Or it can assemble all three of those with the former Exxon station property that adjoins the Douglas property to the east, and redevelop the entire block.
|Every property on this block could|
potentially be assembled for redevelopment
with clear thinking by all parties involved
AOTA announced earlier this year that it had already found a new headquarters. They will be moving to 6116 Executive Boulevard in North Bethesda.