Choke Cherry Rd. Properties Join JBG Porfolio

ROCKVILLE, MD-Ownership of the properties at 3 and 5 Choke Cherry Rd. has changed hands in a recent deal between seller pension fund TA/Western LLC and buyer The JBG Cos. Those involved in the deal have not disclosed the price tag on the transaction, but the Montgomery County Office of Assessments and Taxation tells GlobeSt.com that the properties are valued at a combined $11 million.

Located on a 10-acre parcel off I-270, the Choke Cherry properties consist of a 68,000-sf multi-tenanted office building and a vacant 40,000-sf structure, both developed in 1974. Tenants at 5 Choke Cherry–where space leases for about $22.50 per-sf–include NFR Security Inc., data processing company SSI Business Center, and the Energy Federal Credit Union. TA/Western acquired the aforementioned addresses as part of a larger, nine-structure, 490,000-sf portfolio in 1998 for $50 million. “The property was never really for sale, per se,” McShea & Co. Inc.’s Jack McShea explains to GlobeSt.com. McShea sold the building on behalf of the owner. “JBG owned the 10-acre parcel that was contiguous to the property, and they approached us.”