Marcus Partners Announces Acquisition of Park Plaza I in Rockville, MD

Marcus Partners, announced today the acquisition of Park Plaza I (Rockville, MD) through its most recent fund, Marcus Capital Partners Fund II, L.P.

Park Plaza I, together with Park Plaza II (acquired in June 2015) is a 264,285 SF Class A office property located in Rockville, MD on Gaither Road. As part of the Park Plaza I acquisition, Marcus Partners also acquired the ground lease which had previously encumbered Park Plaza II.

Park Plaza I (built in 1991) and Park Plaza II (built in 2001) offer direct access to Interstate 270, Interstate 370, and Route 355. Located a short drive from the Shady Grove Metro and Gaithersburg Stations, the properties are surrounded by numerous restaurants and are situated within a mile of three major shopping centers (Falls Grove, Washingtonian Center, and King Farm Village Center).

Marcus Partners has planned a repositioning program for the property focused on amenity spaces and common areas, highlights of which include a new high-end café, coffee bar, and outdoor space transformation.

December 2015