Outside the Region: MC Real Estate Partners acquires executive plaza office complex: 327,000 s/f

Rockville, MD MC Real Estate Partners LLC (MCRE) and an institutional partner have acquired Executive Plaza. This is the second office acquisition for the company founded by Andy Nathan and Steve Grant as the successor to their predecessor firms Meritage Properties and ClearRock Properties. The 327,000 s/f property, which has been renovated, is close to the Pike and Rose mixed-use development and the White Flint Metro station.

MCRE retained The Polinger Co. to provide on-site property management services and Bob Dickman from Avison Young as its leasing agent. Jim Meisel and Matt Nicholson of JLL represented the seller and sourced the buyer for this transaction with mortgage brokerage services provided by JLL’s Sue Carras and Chris Hew.

“MCRE is thrilled to have made our first D.C. area acquisition so soon after our formation.  Steve and I have each been active locally for over 20 years and see Executive Plaza as an ideal addition to our portfolio. The Property has all a tenant could ask for – outstanding amenities, great light throughout and flexible floorplates – ideally located near highways, mass transit, retail and housing.  Angelo Gordon and Monument did a wonderful job repositioning Executive Plaza and we look forward to guiding the asset through its next level transformation,” said Andy Nathan, managing principal of MCRE.