CBRE Global Investors Acquires North Bethesda Market
North Bethesda Market, a mixed-use development with 411 apartments and 183K SF of retail, has just traded hands.
The development's retail portion, currently 87.4% leased, is anchored by a Whole Foods Market and includes LA Fitness, Starbucks and Jimmy John's. The multifamily component, consisting of a 24-story high-rise with 187 units and a six-story mid-rise with 224 units, is 96.8% leased. CBRE said it plans to renovate the multifamily and retail with updates to the units, common areas, signage and lighting.
"Considering the mixed-use site, accessibility to transportation and desirable neighborhood, we believe North Bethesda Market will be very competitive," CBRE Global Investors Portfolio Manager Robert Perry said in a release.