New Owner, Bridge, Secures Henry M. Jackson Foundation with 168,000-SF Commitment

Cushman & Wakefield announced today that it has secured the Henry M. Jackson Foundation for 168,000 square feet (SF) to expand and remain as the anchor tenant at SkyBridge Towers, a two-building property totaling 427,000 SF at 6720 Rockledge Drive in Bethesda, Maryland.

The asset was recently acquired by an affiliate of Bridge Investment Group (Bridge). The foundation signed a long-term extension along with taking on 22,000 square feet of new space. Cushman & Wakefield’s Executive Director Ben Powell and Senior Associate Gwen Fraker represent Bridge in leasing SkyBridge Towers.

“The Henry M. Jackson Foundation decided to stay at 6720 Rockledge Dr. because of the project’s premier quality, attractive price point compared to new construction in downtown Bethesda, and new tenant amenity space that Bridge is adding,” said Powell. “This is a huge win for SkyBridge Towers and Rock Spring Park that will carry long-term benefits as the area continues to grow.

SkyBridge Towers is a Class-A office project located in the North Bethesda submarket. The property boasts a central location with easy access to downtown Bethesda and Northern Virginia, a free shuttle to the Metro and is surrounded by a variety of new retail and dining options.

Bridge, which is well known nationally for property repositioning and successful leasing strategies, is upgrading the SkyBridge Towers with modernized co-working space and an impressive 9,000-SF tenant amenity center to include a luxury tenant lounge with a coffee bar, multiple seating options, a gaming area and an indoor/outdoor bar and entertainment concept. Bridge also is adding two state-of-the art conference centers, the largest of which will be able to accommodate over 100 people.

“So far, we’ve been incredibly pleased with the tenant reactions to our reposition concepts,” said Tommy Spinosa of Bridge. “This is our first entry into the Montgomery County market, and we’re excited with the momentum we are already creating.”

Added Fraker, “Bridge has a refreshing outlook on what needs to be done to this project to forge new-found activity in Rock Spring Park and create an amenity-rich environment to both attract and retain quality tenants like The Henry M. Jackson Foundation.”

About Bridge Investment Group

Bridge Investment Group LLC (“Bridge”) is a leading privately held real estate investment and property management firm that manages $8.85 billion in assets under management within its registered investment advisory businesses. We combine our 1,000-person, nationwide, “boots-on-the-ground” operating platform with specialized teams of investment professionals focused on select US real estate verticals, which we believe offer above-market opportunity: Multifamily, Affordable Housing, Seniors Housing & Medical Properties, Office and Debt Strategies. We are owners and operators who are deeply rooted in our assets. Our in-depth knowledge of local markets, as well as our extensive real asset and capital markets expertise, enable us to develop prolific deal flow and to deploy high-touch asset management and monitoring across our business lines. Atlanta based Bridge Office Fund Manager and Bridge Commercial Real Estate are subsidiaries of Bridge Investment Group.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.