The Station Square office complex in downtown Silver Spring was sold last week to Atlanta-based Bridge Office Fund Manager LLC, according to a company press release.
The complex includes three buildings—1100 Wayne Ave., 1010 Wayne Ave. and 8484 Georgia Ave.—with a total of 510,200 square feet of Class A office space close to the Metro and the future Purple Line stations.
Bridge Office plans to invest more that $12 million in renovations to the buildings, which were built between 1982 and 1987, the company said. Changes include revamping the courtyard and entrance to 1010 Wayne Ave. and a co-working concept at 8484 Georgia Ave. with amenities such as modern common areas with a coffee bar, communal workspace and a state-of-the-art conference room.
The owners also plan to reposition select office spaces at Station Square for a new spec suite program “to address growing market demand for move-in ready offices. The spec suites will include open floor plans, creative lounge space and an array of tech-friendly amenities that are relevant to the next generation of office users,” the release said.
Bridge Office is a subsidiary of Bridge Investment Group, a privately held real estate investment management firm with $13.5 billion in assets under management. The price of the Station Square transaction was not provided.
Photo of Station Square courtesy The Wilbert Group.
We are expanding our coverage, and we need your help. Click here for more information.