CCLC completed the sale of legacy property, 8401 Connecticut Avenue in Chevy Chase, for $40.1 million.
The sale of the 190,866-square-foot medical office building creates an opportunity for future growth amid CCLC’s continued portfolio diversification. Transwestern’s Gerry Trainor and Jim Cardellicchio represented CCLC in the sale.
“We have proudly owned and operated this property for more than five decades, and its sale represents both the culmination of a meaningful chapter and a strategic step forward for our organization,” said John Ziegenhein, President and CEO, CCLC.
Developed in 1971 by CCLC, 8401 Connecticut Avenue is located adjacent to Chevy Chase Lake, CCLC’s mixed-use development in partnership with Bozzuto, and is situated on the future Connecticut Avenue Purple Line station.
“8401 Connecticut’s premier location, enduring medical office demand and stability of tenancy made it an exceptionally attractive investment opportunity in one of Washington’s most established and resilient submarkets,” said Gerry Trainor, Executive Managing Director, Transwestern.
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