The final vacancy at One Bank Street has been leased and the asset is now 100% occupied. The three-story office building in Gaithersburg is owned by OT Providers, LLC with leasing handled by Kenneth Fellows and Robert Pugh, both Partners, Advisory Services with Edge, a Washington, D.C.-based commercial real estate services firm.
One Bank Street is a 33,500 square foot commercial office building that fronts Quince Orchard Road (MD Route 124) and is positioned less than one-half mile from Interstate 270 and the Shady Grove Metro Station. The building is less than two miles from the new Watkins Mills Interchange accessing Interstate 270. A range of shopping and restaurant amenities are located steps away at the Quince Orchard Plaza.
A lease for approximately 2,000 square feet of space was signed by OLS Trading. OLS Trading provides furniture liquidation and decommissioning services to companies requiring assistance during an office relocation, corporate right-sizing or merger or acquisition involving a separate entity. Craig Kates with Edge Commercial represented the Tenant in this transaction.
Over the past year, Kenneth Fellows and Robert Pugh brokered several leases to elevate occupancy from 75% to 100%. OLS Trading joins The Rubin Insurance Agency and Subsurface and Tunnel Engineering, which signed new leases at the building, and Integrative Oral and Facial Surgery, which expanded its footprint.
“Office leasing activity in many suburban markets has increased, a trend that we expect to continue in 2022 as employees return to the traditional workplace environment,” explained Kenneth Fellows of Edge. “Well-maintained and high-visibility assets such as One Bank Street, backed by engaged ownership groups, will always be an advantage over the competition.”
Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the Washington, D.C., Maryland, Northern Virginia, and Pennsylvania marketplaces. Founded in 2007, the company currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space. Visit www.edgecre.com.