Saturday, June 10, 2017

Pike District office building acquired by Brookfield, as MoCo private sector economy remains stagnant (Photos)

An LLC controlled by Brookfield has purchased the Montrose Metro I office building at 11921 Rockville Pike, in North Bethesda's Pike District. Built in 1986, the 115356 SF building sold for $23,375,000, according to real estate records.

While the Pike District's Pike & Rose, in particular, is arguably far ahead of new residential projects in Tysons in scope and in the quality of retail and restaurant tenants, the County's vision for the area previously known as White Flint to also be a job center has largely failed to materialize.
Marriott International
The hostile business climate created by the county's elected officials, including higher taxes and energy costs than Northern Virginia, the nation's worst traffic congestion, and a lack of direct access to Dulles Airport, has so far scared away potential major corporate tenants. There were high hopes that Bethesda-based Marriott would "Pick the Pike," but the hospitality giant chose downtown Bethesda over the upstart.
The existing Marriott HQ in
Bethesda
A sign designed to entice Marriott to choose the Pike District had been placed in a bus shelter outside Marriott's current headquarters; it was recently removed. It will be interesting to see how Brookfield markets their new acquisition, or what changes they make, to adapt to the currently-moribund Montgomery County private sector economy. Is this a long-term investment to bank until someone can turn the MoCo economy around, or a short-term property acquisition for residential redevelopment?
Bus stop outside Marriott HQ;
"Pick the Pike" sign has been
removed since Marriott announced
its decision to pick downtown Bethesda
over the Pike District

36 comments:

Anonymous said...

Brookfield's acquisition of Montrose Metro I was first reported by the Washington Business Journal more than two months ago. Why no attribution? As the author of this blog recently said, "'As first reported by...' isn't that complicated to type when you're a professional journalist."

Anonymous said...

A 31-year-old office building was sold.

Marriott moved to downtown Bethesda rather than "Pike District". Both are in Montgomery County.

What is your point, Dyer?

Robert Dyer said...

7:20: I never saw that article, but it doesn't matter, as the real estate records are public. Unlike the fact that 7770 Norfolk was switching to condos, or that Tastee Diner reached agreement for $7M sale, or any other of my exclusive scoops plagiarized without attribution by the small and slightly-failing magazine.

7:20 #2 Did you even read the article? It's about a company investing in office space during a moribund, stagnant MoCo private sector economy, in a place so far ignored by major corporate employers like Marriott.

Anonymous said...

"the nation's worst traffic congestion"

Pure, unadulterated bullshit.

Anonymous said...

You should have just stopped after the first paragraph. But no, you just can't help yourself.

Anonymous said...

"The hostile business climate created by the county's elected officials, including higher taxes and energy costs than Northern Virginia, the nation's worst traffic congestion, and a lack of direct access to Dulles Airport..." - Dyer

I agree the environment isn't business friendly, but now is lack of direct access to Dulles Airport attributed to county officials?

Anonymous said...

Oh, I get it now. Dyer is claiming that this 1980s suburban office building would not be moribund if the "Rockville Facilty" had been built connecting Montrose Road to Dulles.

Anonymous said...

Looks like they recently acquired 6110 Rockville Pike just up the street.

Anonymous said...

"I never saw that article, but it doesn't matter, as the real estate records are public."

And yet in the Fitness First article you complain about Bethesda Magazine "plagiarizing" your material, despite the fact that the closure of the gym was also public information (an announcement was posted on Fitness First's website the day before you published your post).

Can you explain the difference?

Anonymous said...

Again, tasty diner has not reached any agreement with anyone for anything. Not sure why you continue to post that as it is completely false.

Tim said...

10:47am Bethesda Magazine has plagiarised Robert Dyer multiple times this year.

You can't steal Dyer's scoop and then publish it and call Dyer's reporting a "rumor" and don't name him. It's literally stealing revenue from Dyer.

I don't understand why the Magazine is afraid of properly sourcing Dyer. It's childish to make an editorial decision to never name Robert Dyer.

Anonymous said...

That's funny. Robert is equating folks using a public notice as plagiarism. Scratching my head on that one.

Anonymous said...

#UnsignedDyer just contradicted himself, again, re "revenue".

Tim said...

12:32 PM Again, Dyer signs his posts.

Have good day sir.

Anonymous said...

#UnsignedDyer

#PantsOnFire

Skippy said...

Marriott was smart and knows downtown Bethesda is the center of gravity for the county.

I doubt their staff would have preferred to work on Rockville Pike rather than downtown Bethesda.

I love Pike & Rose, but let's get real.

Anonymous said...

@Tim 10:47

I don't understand why the Magazine is afraid of properly sourcing Dyer. It's childish to make an editorial decision to never name Robert Dyer.

Apparently demonstrably false claims are par for the course around these parts. Here are some quotes from Bethesda Magazine (why the obsession with that particular publication, anyway?):

12/10/12: “"Sad," tweeted blogger Robert Dyer.”
5/20/14: “Local blogger Robert Dyer first spotted the deserted space on Saturday and one of his photos show a dining room filled with uncovered tables…”
12/22/14: “Blogger Robert Dyer first reported the news. ”
4/9/15: “Blogger Robert Dyer first reported the news.”
8/13/15: “Local blogger Robert Dyer noted…”
2/19/16: “Blogger Robert Dyer first reported the news.”
4/1/16: “Blogger Robert Dyer first reported the news.”
7/26/16: “Local blogger Robert Dyer first reported news of the demolition permit.”
9/29/16: “Local blogger Robert Dyer first reported the restaurant's closure.”
1/19/17: “The reopening was first reported by local blogger Robert Dyer.”
2/10/17: “The news was first reported by Robert Dyer.”

Many of these quotes hyperlink directly to this very blog. Meanwhile I have yet to see Dyer link back to any of his sources, even when asked to do so.

Anonymous said...

Notice how "Tim" did not say, "I'm not Dyer, I'm Tim", but instead, "Dyer always signs his posts"?

Anonymous said...

3:14 PM There's no obsession about the Magazine, they just happen to be the folks plagiarizing Robert Dyer regularly and should know better.

Anonymous said...

Kudos

Anonymous said...

Stealing Dyer's scoop on the Tastee Diner and simply sourcing it as a "rumor" without mentioning Dyer was an outrageous breach of journalistic integrity by the Magazine. There was no damn rumor, you read it on Dyer's site. Dyer had reporting developed from a source.

You can be dislike the fact that Dyer is publishing, but that doesn't mean you can steal from him without folks calling you out.

That's just one recent example!

Robert Dyer said...

10:57: Your comment simply proves they learned of it from my report. If they were simply checking Fitness First Facebook page every day (as does nobody), they would have reported it the day before, then.

Instead, their report came long AFTER mine.

Anonymous said...

So, by Dyer's own standard, he is committing plagiarism every time he publishes a story after it has previously been published in Bethesda Magazine. Or WTOP. Or The Washington Post. Or Patch. Or Washington Business Journals.

And committing outrageous breaches of journalistic integrity with his sockpuppet comments.

Robert Dyer said...

7:10: Nope, it's when I'm the source of the information, as I clearly was in the cases I mentioned. You must attribute my blog as the source in that case. Journalism 101.

Anonymous said...

What is your proof that you were "the source", other than post hoc, ergo propter hoc?

Anna Van Horn said...

Tim,
You posted "Have good day sir." I'm confused because that is what both "Roald" and New"Rugby" have been using as their closing when posting to me. Are you all brothers? In some kind of group? What's the connection?

Robert,
You said you never took Journalism 101. In all kindness. you're mixing some "apples and oranges" here with sources and attribution. I urge you to go back and read up.

Tim said...

The usual paranoid claims that I don't exist.

If you prefer to believe Robert Dyer writes every comment here, that's kind of crazy, but feel free to do so. Whatever floats your boat.

I agree with the comments that local bloggers shouldn't lift stories from Dyer without attributing and linking back to him. Even a new blogger understands hat tips, linking and sourcing. It's not brain surgery.

Anna Van Horn said...

Tim,
Please read again. No claims. I asked. You're reading more into it.
My comment to you never mentioned Dyer, never claimed you don't exist.

And you never answered why you all use the same phrase. And why you assume every poster is "sir."

Anonymous said...

"the hospitality giant chose downtown Bethesda"

...which is in Montgomery County (and has even worse access to Dulles). You pretty much refute your own points.

Anonymous said...

Established media is terrified of citizen journalists. The sense of entitlement is outrageous.

Robert Dyer said...

7:18: One company decision doesn't refute the solid evidence (all the companies choosing Fairfax over MoCo) that Dulles access is critical for international firms, as is the more business-friendly climate of Virginia. Marriott stated they wanted to be near transit (yet are demanding a ton of parking), and that was what they ended up doing. Aerospace and defense firms, biotech, and tech firms like Google and Apple prefer secure, suburban office parks - and their jobs pay a hell of a lot more than the vast majority of Marriott's jobs.

Those are the firms we should be targeting, and we need direct Dulles access to do it.

Anonymous said...

Robert Dyer 7:20: I never saw that article, but it doesn't matter, as the real estate records are public. Unlike the fact that 7770 Norfolk was switching to condos, or that Tastee Diner reached agreement for $7M sale, or any other of my exclusive scoops plagiarized without attribution by the small and slightly-failing magazine.

Again, tasty diner has not reached any agreement with anyone for anything. Not sure why you continue to post that as it is completely false.

Robert Dyer said...

1:31: If not, why aren't they talking about it? The owner said there was a deadline, and that date passed weeks ago. The property would be worth only a fraction of what Marriott offered if they decline to sell now, once it's walled in by Marriott. What's your evidence there is no deal?

Anonymous said...

Show the evidence? You mean the un-written and therefore un-signed contracts?

My guess is the Tastee people are enjoying their $2M consideration fee, while they wait to decide to sell, hoping value goes up.

Robert Dyer said...

4:20: How will value go up, if they are boxed in by Marriott, and only a tiny building can be constructed on their property at that point?

Anonymous said...

How are they "boxed in by Marriott"? Nothing is built. Like I said, it's my guess. Something that happens often in this area. They get some money, get to keep their business running, and eventually will decide and finalize papers to sell.