Carr Properties Breaks Ground on First Office Development in Downtown Bethesda, MD. in 12 Years

Transwestern To Handle Leasing At The 220,400-Square-Foot Development

(November 19, 2012 – BETHESDA, MD.) – Carr Properties today announced it has broken ground on 4500 East West Highway, the first office property to be built in downtown Bethesda, Md. in 12 years. The nine-story, 220,400-square-foot trophy office development will be located within 700 feet of the entrance to the Bethesda Metro Station, providing easy access to the Metrorail and other forms of public transportation. Transwestern’s Phillip McCarthy and Keith Foery, executive vice presidents, and Jovi McAndrew, senior vice president, are leasing agents for the project, which is expected to be delivered in June 2014.

“The quality of ownership for 4500 East West is like none other in the D.C. metro area,” said McCarthy. “Our team at Transwestern looks forward to working with Carr Properties to deliver a world-class building that will provide tenants with flexible and efficient workspaces and exceptional amenities.”

The office building being developed by Carr Properties is pre-certified LEED® Platinum. 4500 East West will have nine-foot finished ceilings and 27,700-square-foot floorplates designed for maximum flexibility. Wrapped in full-height, glazed curtain wall, 4500 East West’s “glass box” façade will create a bold, luminous presence in the heart of Bethesda. Tenants will experience the ultimate in comfort in a sustainable environment with state-of-the-art HVAC systems and an energy-efficient curtain wall system featuring high performance glass to minimize heat gain and glare.

Amenities at 4500 East West will include a 4,500-square-foot rooftop terrace with lush landscaping overlooking a green roof, a catering kitchen and panoramic views of Bethesda extending toward northwest Washington, D.C. The building will also have a fully equipped, 2,600-square-foot executive fitness facility with lockers and showers, and a 1,900-square-foot conference center with video conferencing technology.

For biking enthusiasts, the building will offer a full bike storage and repair facility, as well as easy access to the Capital Crescent Trail. The building will feature more than 13,000 square feet of street-level retail set above four levels of below-grade parking and a 4,800-square-foot plaza with commissioned artwork.

“Carr Properties is very excited to begin construction,” said Oliver T. Carr, III, president and CEO of Carr Properties. “4500 East West will be the first building built in downtown Bethesda in 12 years and will set a new standard in the market for quality as a LEED Platinum trophy building.”

Local leaders joined the ground breaking event, including Montgomery County Executive Ike Leggett and Montgomery County Economic Development Director Steve Silverman. Both Leggett and Silverman spoke at the event.


ABOUT CARR PROPERTIES

Carr Properties is a privately held real estate investment trust focused on creating value for its shareholders through its investment and development activity in the greater Washington area. The company owns and operates a portfolio of approximately $1.1 billion of commercial office properties in the Washington area totaling 4.0 million square feet and is currently developing over 650,000 square feet of trophy quality office projects in the region including notable projects such as 1700 New York Avenue in Washington’s central business district and 4500 East West Highway in Bethesda, MD. Carr Properties was formed in March of 2007 as the successor entity to Columbia Equity Trust, Inc., a New York Stock Exchange listed office REIT. For more information, please visit our website, www.carrprop.com.

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