May 9, 2018

BlackRock Buys Flats At Bethesda From StonebridgeCarras, PN Hoffman

StonebridgeCarras and PN Hoffman are cashing out of a luxury Bethesda apartment project they jointly developed in 2015. The developers sold the 162-unit Flats at Bethesda to a fund managed by BlackRock Real Assets. The sale closed for $143.5M, according a source familiar with the deal. HFF's Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jorden Lex brokered the deal. The property, at 7170 Woodmont Ave., includes 40K SF of ground-floor retail that is fully leased to Pottery Barn, PassionFish, Silver, Chop't, Paul and Long & Foster Real Estate. It sits across the street from the Bethesda Row retail center. The ...READ MORE

April 30, 2018

StonebridgeCarras and Donohoe Propose 145-Foot-Tall Bethesda Office Project

StonebridgeCarras is adding to its Bethesda development pipeline with a 145-foot-tall Woodmont Triangle office building.  The developer, in partnership with Donohoe Cos., submitted a sketch plan application with Montgomery County for a 185K SF office building at 8280 Wisconsin Ave., Bethesda Magazine reports. The plan calls for a 145-foot-tall office building with up to 185K SF on the 0.44-acre site. It would also have 110 parking spaces and about 750 SF of open space along Wisconsin Avenue.  ...READ MORE

April 18, 2018

StonebridgeCarras Closes on Key Parcels for $350M Hoffman Town Center

A joint venture between StonebridgeCarras and Chicago-based Creek Lane Capital announced Wednesday it has purchased 5 acres in Alexandria for its Hoffman Town Center project, allowing the companies to move forward on construction on the 1 million-square-foot mixed-use development anchored by a Wegmans grocery store in early 2019.  Doug Firstenberg, a principal with Bethesda's StonebridgeCarras, declined to disclose the price that the joint venture paid for blocks 4 and 5 from the Hoffman family. But he said the companies have been under contract to buy the properties, which will encompass the northern-most point of retail activity for the project, for about two years. ...READ MORE

February 8, 2018

Planning Board Gives Thumbs Up to Hotel, Office Tower at Bethesda Police Station Site

County planning officials on Thursday praised a project to build a 250-foot “trophy” tower designed at a quality level not seen before in downtown Bethesda. But they don’t necessarily want other developers to copy Avocet Tower, the project at 7359 Wisconsin Ave., Montgomery County Planning Board members said. “This is an internationally known architectural firm. The artist is an internationally known artist, and it’s taking things to the kind of level of design excellence that we’ve been striving for,” Planning Director Gwen Wright said. “But I do think we have to be careful because others may try to say, ‘Well, you know, we can do this with the local architect we hired down the street.’ ” The board approved a package of plans for the project that will bring a roughly 220-room AC Hotel by Marriott and 400,000 square feet of office space. The 1.5-acre project site at the corner of Montgomery and Wisconsin avenues is now occupied by a county police station, Carpet Palace and an office building. “Hopefully, you’ll see today a development that, in our opinion, is really a phenomenal place-maker in the new Bethesda downtown,” said Jane Galbraith Mahaffie, a principal for the developer StonebridgeCarras. ...READ MORE

January 22, 2018

New 2nd District Police Station opens in Bethesda

Montgomery County government and police officials cut the ribbon Monday for the new 2nd District police station in downtown Bethesda. The four-story, 38,000-square-foot station opened on 4823 Rugby Ave., marking the end of an era for the district’s former longtime station at the corner of Wisconsin and Montgomery avenues, which opened in 1961. Bethesda-based developer StonebridgeCarras built the station as part of a public-private partnership in which the county gave the company the property of the former police station, which is across the street from the Bethesda Metro stop.County Council member Roger Berliner, who represents Bethesda, said the partnership was a “win-win for the private and public sector” and congratulated the local police force on the new facilities. ...READ MORE