Trophy office tower in Bethesda, Maryland, changes hands

WASHINGTON, D.C., May 16, 2023 - JLL Capital Markets announced today that it has arranged the sale of 4747 Bethesda Ave., a 300,508-square-foot, trophy office building in the heart of downtown Bethesda, Maryland, on behalf of the seller, JBG Smith.

Built in 2019, 4747 Bethesda Ave. is an iconic asset that is 98% leased to a diversified tenant roster and serves as the headquarters location for JBG Smith. The LEED Gold and Fitwel-certified building offers new construction and a best-in-class amenity package highlighted by a rooftop lounge, state-of-the-art fitness facility and a penthouse conference room with floor-to-ceiling glass windows.

The property has a gateway location adjacent to Bethesda Row, which features more than 70 retailers, restaurants, and entertainment venues. Additionally, the property is walkable to mass transit, including the Red and future Purple Lines, which connect tenants to the Greater Washington, D.C. metropolitan area.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Jim Meisel, Matt Nicholson, and Andrew Weir, Senior Director Dave Baker and Director Kevin Byrd.

"4747 Bethesda Avenue offers exactly what tenants are looking for in today's environment - wellness-focused amenities, efficient floorplans that maximize natural light and promote productive collaboration and a contemporary sophisticated appeal - and the brand-name credit tenancy investors seek," Meisel said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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