New data from the Greater Capital Area Association of REALTORS® (GCAAR) shows that the spring housing market is picking up, but shifting conditions are giving buyers more leverage than they’ve had in recent years.
Real Estate
A recently completed apartment conversion in downtown Silver Spring has changed hands. The Guardian, a 167-unit residential building at 8605 Cameron Street, sold for $14.3 million at a substitute trustee’s auction on February 26. The sale reflects the tenant’s interest in a ground lease for the property, according to Maryland Newsletters, which first reported details of the transaction.
A Germantown medical building occupied by Patient First has been sold for $5.45 million, according to a report from Maryland Newsletters.
Federal Realty Investment Trust has announced the sale of Courthouse Center, a 33,000SF shopping center in Rockville, for $10 million.
A Rockville-based partnership has purchased two buildings in the Montgomery County Airpark area for $4.99 million, according to Maryland Newsletters.
Potomac Oak Shopping Center in Potomac has been sold, according to a report from Maryland Newsletters.
Granite Canyon Partners (GCP) has acquired The Grove shopping center in Derwood, marking the first time the property has changed hands since it was developed by the Casey family. Maryland newsletters reports the shopping center sold for $17.4 million.
Montgomery County officials say the County’s rent stabilization law is delivering on its promise to provide renters with stability while still allowing landlords to maintain their properties, according to a newly released report from the Department of Housing and Community Affairs.
A recent home sale has set a new pricing record in Gaithersburg’s Lakelands and Kentlands neighborhoods, underscoring strong buyer demand as the spring market begins to take shape.
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.
The Greater Capital Area Association of REALTORS® (GCAAR) reports that homes are taking longer to sell across Montgomery County and Washington, D.C., signaling a slower winter market and shifting conditions that may benefit buyers.