A 130,000SF outpatient medical building in Rockville/Potomac has been sold for $20.25 million, according to information shared by the brokerage firm involved in the transaction and land records.
KLNB’s Josh Norwitz announced on LinkedIn that KLNB Capital Markets successfully completed the disposition of 1201 Seven Locks Road, also known as Montrose West. The property functions as an outpatient medical facility. The building is anchored by Rockville Internal Medicine and sits within an area described as being in the path of ongoing development, with immediate access to I-270 and a dense surrounding residential population.
The property is located near the Rockville/Potomac area’s Park Potomac mixed-use development, which includes hundreds of residential units along with office and retail space. The location is considered one of the more affluent areas of the county.
Maryland Newsletters reported that the seller was a Brick partnership and that the buyer was Montrose Triangle LLC. Per the report, according to documents filed in the Maryland Land Records, Montrose Triangle LLC is a partnership headed by Vishal Khosla, president of KPI Commercial. The reported sale price was $20.25 million.
