WASHINGTON, Jan. 31, 2019 /PRNewswire/ -- Rubenstein Partners, L.P., (including its affiliates, "Rubenstein"), a vertically-integrated real estate investment advisor focused on value-added office property opportunities, announced the acquisition of 2600 Tower Oaks Boulevard, a 48% leased eight-story 179,421-square-foot Class-A office building located in the I-270 corridor in Rockville, MD.
The acquisition of 2600 Tower Oaks Boulevard, along with its August 2018 purchase of the 227,000- square-foot Research Plaza office complex, enables Rubenstein to grow its footprint in the Rockville market and benefit from various economies of scale, notes Steve Evans, Regional Director for Rubenstein. "We consider 2600 Tower Oaks Boulevard to be an extraordinarily well-located office asset with excellent visibility along I-270 and superior access to housing, labor and a broad amenity base."
Consistent with its value-added investing strategy, Rubenstein intends to implement a capital program that will add a state-of-the-art amenity package, including tenant lounge, café and fitness facility, as well as an upgrading of the common areas. Originally built in 2001, 2600 Tower Oaks "has great bones, but needs to be modernized with all of the features tenants seek in a state-of-the-art office building and surrounding vibrant environment," says Tyler Kinn with Rubenstein, who worked on both the Research Plaza and 2600 Tower Oaks investments.
About Rubenstein Partners
Rubenstein Partners, founded in September 2005, is a private real estate investment management and advisory firm with operations throughout the United States. The firm is led by its founder, David Rubenstein, and a group of senior real estate executives, and is focused on directing and managing office real estate investments in the U.S. Rubenstein Partners' predecessor company, The Rubenstein Company, LP and affiliates, founded in 1969, was one of the largest private owner operators of Class A office real estate in the Mid-Atlantic, owning and operating a portfolio of assets valued at approximately $1.2 billion at the time of its disposition in 2004. Since 2005, Rubenstein Partners has, on behalf of its investors and clients, invested in more than 21 million square feet of office real estate assets throughout the United States. For more information, visit www.rubensteinpartners.com.
SOURCE Rubenstein Partners