Washington Business Journal
CCLC has offloaded a Chevy Chase medical office building that it developed more than 50 years ago as it moves to diversify its portfolio, the company announced this week.
The firm, formerly called the Chevy Chase Land Co. before a name change last year, sold the 190,866-square-foot office at 8401 Connecticut Ave. for $40.1 million to an undisclosed buyer. The transaction hasn’t been recorded in Maryland state property records yet. The property's assessed value is $26.5 million.
The 13-story property, built in 1971, sits at the future Connecticut Avenue Purple Line station and adjacent to Chevy Chase Lake, a mixed-use project CCLC developed in partnership with Bozzuto. CCLC considered it a "legacy property" in its portfolio, as it was its only medical office building.
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