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Carr Signs a New Lease at The Wilson

March 28, 2019

WASHINGTON--(BUSINESS WIRE)--Mar 28, 2019--Carr Properties announced the signing of a new office lease at The Wilson located at 7272 Wisconsin Avenue, Bethesda, MD. ProShares will occupy 55,000 SF, bringing the building office space to 59% leased.

Oliver Carr, CEO of Carr Properties, commented: “We are excited to have ProShares relocate its corporate headquarters to The Wilson. ProShares is a Bethesda-based asset manager that has been at the forefront of the ETF revolution since 2006. We look forward to building a long-term relationship with them as a valued customer. The Wilson was designed to offer unparalleled views and an array of amenities that will provide a first-class experience. We are very pleased that ProShares will have the opportunity to take advantage of all that the building will offer.”

Situated in the heart of Bethesda at the prime intersection of Wisconsin Avenue and Elm Street, The Wilson (office building) and The Elm (residential) will include 361,000 SF of office space and 456 multifamily units located in three towers all within easy walking distance of Bethesda’s best shops and restaurants. The project will extend up 295 feet from the street and will offer the best views in Bethesda. Additionally, the project is adjacent to the new Bethesda transit station which provides access to the Red Line, Purple Line and the Capital Crescent Trail (the premier hiker/biker trail in the DC metro area). Along with changing the skyline, The Wilson will change the way people live and work in Bethesda.

Bernie McCarthy of Jones Lang LaSalle represented ProShares. Carr Properties was represented in-house by Dan Dooley and Jason Bockenek, and by Phillip McCarthy, Keith Foery, and Cricket Cleary of Transwestern.

The Wilson delivers in the summer of 2020.

About Carr Properties

Carr Properties is a privately held real estate investment trust that owns, manages, acquires and develops high-quality office properties in Washington, D.C., and Boston, MA. The company currently owns a portfolio of 17 commercial office properties totaling approximately 4.7 million square feet, as well as, a pipeline of five development projects that include: The Wilson and The Elm Development in Bethesda, MD; Signal House in the Union Market area of Washington, D.C.; and One Congress in Boston, MA. Upon completion, these projects will add 2.4 million SF of trophy-quality office space to the company’s portfolio. The company is continuing to expand its portfolio through strategic investments in the Washington, D.C., and Boston, MA areas.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190328005125/en/

CONTACT: Rahewa Yemane, Carr Properties

202.355.1292

ryemane@carrprop.com

KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA MARYLAND

INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT URBAN PLANNING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Carr Properties

Copyright Business Wire 2019.

PUB: 03/28/2019 08:00 AM/DISC: 03/28/2019 08:01 AM

http://www.businesswire.com/news/home/20190328005125/en