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Rubenstein Partners Expands Rockville, Maryland Properties

02/01/2019
Rubenstein Partners, L.P., a vertically-integrated real estate investment advisor, acquired of 2600 Tower Oaks Boulevard, a 48% leased eight-story 179,421-square-foot Class-A office building located in the I-270 corridor in Rockville, Maryland.

Acquisition of 2600 Tower Oaks Boulevard, along with its August 2018 purchase of the 227,000- square-foot Research Plaza office complex, enables Rubenstein to grow its footprint in the Rockville market and benefit from various economies of scale, notes Steve Evans, Regional Director for Rubenstein.

"We consider 2600 Tower Oaks Boulevard to be an extraordinarily well-located office asset with excellent visibility along I-270 and superior access to housing, labor and a broad amenity base,” he added.

According to company officials, consistent with its value-added investing strategy, Rubenstein intends to implement a capital program that will add a state-of-the-art amenity package, including tenant lounge, café and fitness facility, as well as an upgrading of the common areas.

Originally built in 2001, 2600 Tower Oaks "has great bones, but needs to be modernized with all of the features tenants seek in a state-of-the-art office building and surrounding vibrant environment," says Tyler Kinn with Rubenstein, who worked on both the Research Plaza and 2600 Tower Oaks investments.

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