A four-building office portfolio at the crossroads of downtown Bethesda is in new hands today. MRP Realty has acquired the Bethesda Crescent complex, which consists of 7401 Wisconsin Avenue, 7475 Wisconsin, 4600 East-West Highway, and 4650 East-West Highway. The 287,529-square-foot complex was acquired via foreclosure, in partnership with Prime Finance, and no brokers were involved. A foreclosure is not surprising, given the moribund Montgomery County economy, and the resulting weak county office market that predates the pandemic.
“MRP Realty is proud to partner with Prime Finance on this pivotal project. We have been active in this area of downtown Bethesda since we acquired the former Air Rights building at 7315 Wisconsin Avenue in 2013, which is now Bethesda Crossing,” MRP Realty Vice President Nick Gordon said in a statement. “We look forward to contributing to the re-vitalization of this submarket through our efforts to reposition the Bethesda Crescent portfolio.”
Photo montage courtesy MRP Realty
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