7500 Old Georgetown Road Acquisition
In-Rel Properties (“In-Rel”) celebrates its first DC Area acquisition with the purchase of 7500 Old Georgetown Road in Bethesda, Maryland. The investment consists of a 16-story, 335,00 square foot Class A office complex which is currently 40% leased.
In-Rel is planning to open an onsite management office that will ensure responsive and efficient service for tenants, reinforcing In-Rel’s dedication to providing top-notch commercial real estate service. Furthermore, In-Rel is committed to an aggressive leasing strategy, with the ability to promptly fund tenant improvements and leasing commissions.
Dennis Udwin, President of In-Rel, commented on the acquisition, saying, “This marks an exciting chapter for In-Rel. We are not just acquiring a property; we are investing in a prime location in the DC area. The timing might not have been favorable for the previous ownership, but they did an outstanding job renovating the exterior, lobbies, bathrooms, gym, and conference center. We are here to build on that foundation and unlock the property’s full potential.”
The iconic building is situated in an A+ location adjacent to Bethesda Station (Red Line Metro), offering tremendous opportunities for tenant signage on both the building and helipad rooftop. There are also prime locations for retail users on the street and metro levels.
As a vertically integrated company, In-Rel brings over 30 years of industry experience currently operating in six states with 3.5 million square feet under management. Known for its expertise in revitalizing troubled office buildings, In-Rel has a proven track record of success, and looks forward to transforming this asset into a dynamic workplace in downtown Bethesda.