Business & Tech

Rockpoint, MRP Realty Acquire Air Rights Center

With development approvals for a new office building at the site, a makeover is on the horizon for the complex, according to the Washington Business Journal.

Bethesda’s Air Rights Center has changed hands from TIAA-CREF to Rockpoint and MRP Realty in a deal closed Wednesday, .

Rockpoint and MRP are planning a makeover for the complex, which consists of three buildings at 7315 Wisconsin Ave. and 4550 Montgomery Ave., along with a development site at 7300 Pearl St. with approvals for a 150,000-square-foot office building, according to the report.

The purchase price was undisclosed.

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"We're very excited about it because we have wanted to grow our presence in Bethesda and in Montgomery County," MRP principal Zach Wade told the Business Journal. "It's really a healthy and diverse market."

Read the full story at The Washington Business Journal.

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