Bethesda’s Fairmont Building Sells for $45M

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Seattle-based investment advisory firm Washington Capital Management (WCM) has acquired the 12-story Fairmont Building in downtown Bethesda, Md., for $45 million, according to JLL, which represented the seller, Bainum Family Foundation. WCM made the purchase on behalf of an undisclosed client.

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The 125,108-square-foot office property, located at 7735 Old Georgetown Road, is 96 percent leased to a diverse set of tenants, according to a statement from JLL. The building is surrounded by 160 shops and restaurants and is four blocks away from the Bethesda Row metro station.

Jim Meisel, Andrew Weir, Matthew Nicholson and David Baker represented the Bainum Family Foundation in the transaction. The brokers did not respond to Commercial Observer’s request for comment. WCM was not represented by a broker.