|01.02.08||Kenwood Management Company Acquires Rockville Industrial Property
Bethesda, Maryland. An affiliate of Kenwood Management Company, Westmore Road Associates, LLC., completed a sale-lease back of 1008 Westmore Avenue, Rockville, Maryland on December 6, 2007. The seller, Circle K1 Realty, Inc., is affiliated with the Kane Companies. The purchase price was $5.07 million.
The 53,028 square foot bulk warehouse building, located on 2.7 acres, is located off Gude Drive. As part of the transaction, Office Movers, Inc., part of the Kane Companies, executed a long term lease for the entire building.
Bill Singer represented Kenwood in this acquisition. Singer stated "we are very pleased to have completed this transaction, which adds to our industrial portfolio. Office Movers is a top quality organization and we are pleased to have them as a long term client".
David Kane of Kane Real Estate Services, Inc. represented the Seller and Jim Darby of Transwestern Commercial Services represented the Buyer.
Kenwood currently owns over 1 million square feet of office and industrial space throughout the Washington Metro area.
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