A Los Angeles-based investment firm has made a new entry into the Rockville office market with the purchase of a Twinbrook-area property, according to reporting from Maryland Newsletters.
Per the report, an affiliate of Tavaco Properties paid $8.2 million for 12300 Twinbrook Parkway, also known as Twinbrook Metro Plaza. The roughly 170,000 SF office building sits just off Rockville Pike near Twinbrook Parkway. The property was previously owned by a partnership between Artemis Real Estate Partners and MRP Realty, which acquired it in 2016 for $15.5 million.
With the acquisition, Tavaco is expected to pursue upgrades and renovations as part of a broader repositioning strategy while continuing to lease available space. The building is currently about 62 percent occupied and features an EagleBank branch on the ground floor, along with a mix of office tenants above.
Current tenants include Affiliated Engineers, Bravium, Budlow and Noble, CFRA, Corestaff Services, Deloitte, Fisher House Foundation, PQE US, Transcen, and WRMA, spanning industries such as professional services, technical services, and nonprofit work.
The property also includes amenities such as a fitness center with locker rooms and towel service for tenants. There are currently 18 office spaces available for lease, signaling an opportunity for additional occupancy as Tavaco looks to reposition the building.
