HBW Group Completes Sale of Rockville AssetBy
ProMark Real Estate Services purchased the 37-year-old, 101,000-square-foot office building and has renovations planned for the property.
ProMark Real Estate Services acquired 451 Hungerford Drive in Rockville, Md. from HBW Group for $14.5 million, according to public records. The acquisition was backed by $11.3 million financing funded by Revere Bank.
HBW Group developed the seven-story asset in 1980. The 101,000-square-foot building sits on 3.12 acres and includes 14,000 square feet of retail on the first floor, as well as 278 parking spaces, according to Yardi Matrix. ProMark plans to renovate the exterior and replace the mechanical system with a new one, unveiling possible development plans…
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