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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.

"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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