Bethesda Office Center sold for $63.5 million
A downtown Bethesda office building was sold to an undisclosed buyer for $63.5 million last week. The commercial real estate broker Holliday Fenoglio Fowler announced June 4 it closed the deal for Bethesda Office Center, a 174,400-square-foot building at 4520 East West Highway, on behalf of the building’s owner, AEW Capital Management.
Women’s co-working space opens in Friendship Heights
Hera Hub, a co-working space for women similar to Uber Offices, has opened a location on Wisconsin Avenue in Friendship Heights. The business offers shared workspaces to rent and educational opportunities to budding female entrepreneurs. On Wednesday, Hera Hub will host its official opening event from 6 to 9 p.m. Hera Hub launched in northern California, where the company has three locations. The new Friendship Heights location is the company’s fourth and its first outside of California.
Host Hotels & Resorts buys Arizona luxury resort for $400 million
The Phoenician resort. Credit: Phoenician website
Bethesda-based Host Hotels & Resorts, the independent real estate investment trust that was spun off from Marriott in the ‘90s, announced Monday it purchased the 643-room Phoenician for $400 million. The 300-acre Scottsdale, Arizona, resort is located at the base of Camelback Mountain, and includes a 27-hole golf course, seven pools and nine restaurants. Host plans to renovate the property and possibly develop 9 acres of adjacent land into a residential development, according to a press release.
Bach to Rock plans franchise expansion to Houston
Bach to Rock in Bethesda. Credit: Bach to Rock
The music school Bach to Rock, which opened its first location in Bethesda in 2007, is planning to open two new franchise schools in Houston. The Bethesda-based company announced Monday it entered into an agreement with Alex and Lynley Stern, a husband-and-wife team who own Ruby Capital, to open two locations in the Houston area. With the two planned Houston schools, Bach to Rock will have a total of 12 locations. Six of the 10 currently operating schools are corporate-owned and located in Maryland and Virginia, including the Gaithersburg and Bethesda locations, while the other four are franchises in New York, California and Pennsylvania.
José Andrés, The Daily Dish win restaurant association awards
Local celebrity chef José Andrés and a Silver Spring restaurant won awards Sunday night at the Restaurant Association of Metropolitan Washington’s annual RAMMYs party. Andrés and his ThinkFoodGroup partner Rob Wilder won the restaurateur of the year award. ThinkFoodGroup operates Jaleo in Bethesda. The Daily Dish in Silver Spring won the industry association’s award for best everyday casual brunch. The restaurant association represents member restaurants in Washington, D.C., Maryland and Virginia and advocates on their behalf. A full list of RAMMY award winners is located on the association’s website.
