Marriott HQ Near Washington, DC Selling For $80 Million

Real Estate Alert reports that Freemont Group has agreed to sell Marriott International's 288,000 sf headquarters at Two Washingtonian Center in Gaithersburg, MD to GLL Real Estate Partners. The Marriott lease for the entire building runs through 2015 at triple net rents of $21 per sf. The offering price would provide the buyer a 7.5% initial annual return. The six story building was designed with two wings, an atrium and a 1,150 car garage on a 5-acre site. The first wing and atrium totalling 155,000 sf were completed in spring 2002. The second wing is scheduled for completion by next summer. Hewlett Packard subleases 71,000 sf. Sphere: Related Content