Spitzer Finishes Multimillion-Dollar Revamp of DC-Area Office Building

4800 Hampden Road. Image courtesy of Cushman & Wakefield

Spitzer Enterprises has finished the repositioning of 4800 Hampden Lane, a 185,000-square-foot office building in Bethesda, Md. The company purchased the asset more than a decade ago from JBG Cos. for $90.3 million, according to CommercialEdge data.

The more than $10 million capital improvement plan was announced in 2021. The property became subject to a $67 million loan originated by CIM Group that same year, the same source shows.

The multimillion-dollar plan for the Class A building included upgrades to the lobby, enhancement of the facade and the addition of new amenities, including a fitness center, a conference center and secure bicycle storage.

Built in 1986, the 12-story building has a steel frame construction type and a masonry exterior. Also known as One Bethesda Center, the property features several terraces, six high-speed elevators, 24-hour security, onsite property management and subterranean parking. The mid-rise building has achieved LEED Silver certification.

The property is located in the Bethesda submarket of metro Washington D.C., near the intersection of Wisconsin Avenue, Old Georgetown Road and East-West Highway. An abundance of retail centers, dining options and entertainment venues are located within walking distance. The nearby Bethesda Metro Station offers access to the red line of the Washington Metro rapid transit system, as well as several bus routes.

Ben Powell, Michael Katcher and Gwen Dominguez of Cushman & Wakefield are the exclusive leasing brokers for the property.