By Ben Peters – Staff Reporter, Washington Business Journal

May 26, 2026 – Updated May 27, 2026 8:45am EDT

Story Highlights

• In-Rel Properties acquired the leasehold interest in 3 Bethesda Metro Center for $20 million.
• The company plans to renovate 3 Bethesda Metro and the office next door into a transit-oriented office campus.
• The 388,084-square-foot building at 3 Bethesda Metro is currently just over half full.

Florida commercial real estate investor In-Rel Properties has acquired the leasehold interest in a downtown Bethesda office building for $20 million with plans to reposition the property and the one next door.

The 388,084-square-foot office at 3 Bethesda Metro Center is located directly above the Bethesda Metro station and adjacent to the office at 7500 Old Georgetown Road that In-Rel acquired in 2023 for $29.9 million.

The land beneath 3 Bethesda Metro is owned by the the Washington Metropolitan Area Transit Authority. Brookfield Properties was the seller of the leasehold interest.

In-Rel Principal Jackson Siegal said the properties will combine to form a transit-oriented office campus it’s calling “In-Rel Plaza.” The facade of 3 Bethesda Metro will be renovated using colors similar to 7500 Old Georgetown to create cohesion. The owner also plans to create “an activated public gathering space” in the plaza between the two buildings, Siegal said.

The acquisition was financed with a loan from Burke & Herbert Bank, but Siegal declined to say the amount borrowed. 

“I live in the area and I am committed to its long-term success,” Siegal said of Greater Washington in an interview. “The area has a vibrancy that I am willing to bet on.”

“Not all office buildings need to be demolished and rebuilt as residential or converted to residential,” he added. “I believe that people still want to be together when they work.”

Renovations and additions to 3 Bethesda Metro, also known as 7450 Wisconsin Ave., will include a redesigned lobby, a 100-person conference center, new fitness center and locker rooms and other “upgrades aimed at elevating the tenant experience,” according to In-Rel.

Architecture firm Corgan is leading the building’s redesign while In-Rel continues to shop for a general contractor, according to Siegal, who declined to disclose an estimated price tag for the planned repositioning.

Built in 1985 and rising 16 stories, 3 Bethesda Metro is currently just over half full, according to Siegal. Cushman & Wakefield was named leasing agent for the property, with Ben Powell, Gwen Dominguez and Michael Katcher leading the effort, according to In-Rel.

Brookfield, which acquired the leasehold interest from The Meridian Group for $150.1 million in 2011, did not immediately return a request for comment on the sale. The real estate giant retained JLL last year to market the property for sale.

The acquisition marks In-Rel’s fourth in Greater Washington in recent years. The firm last year paid $20.5 million for the office at 2033 K St. NW. In 2024, it acquired 3865 Wilson Blvd., also known as Ballston Gateway, for $25.7 million. Since it acquired 7500 Old Georgetown, the property has gone from 40% to 80% occupancy, according to In-Rel.