Kenwood Management Company Celebrates Success with Nine New and Renewed Leases at Kenwood Building in Bethesda, MD
Kenwood Management Company, a prominent Washington, DC, and Baltimore-based owner-operator, proudly announces the completion of nine leases at its flagship Kenwood Building in Bethesda, MD, marking a significant milestone in the property’s thriving community.
The leases include Truist Bank, Cohen Rehab and Performance, Aaronson, City Title, The Perfect Workout, Wonders Learning, Symmetry, Marika Meyers Interiors, and Tritec Development Group. Cohen executed a new 10-year lease, and all the others were renewals. The total value for all nine leases is approximately $3.6M.
Kenwood was represented by Jack Alexander at AMR. Deniz Yener and Maggie Wunderlick represented Cohen from The Tenant Agency.
The Kenwood Building in Bethesda, MD, is adjacent to the Whole Foods shopping center on one side and the Giant Food - Regency Center on the other. Regency is currently re-developing the center to include new restaurants and retail shops. Built-in 1966, The Kenwood Building provides smaller local tenants with efficient space and on-site management services.
Kenwood Management acquired The Kenwood Building in 1996 from Mutual Life Insurance Company of New York. Since then, Kenwood’s investors have received nearly 5x on the initial equity from cash flow and refinance proceeds, not including their unrealized equity from the future property sale.
Hank Bowis, General Partner for Kenwood Building, said, “We are very pleased to not only welcome Zach Cohen to the Kenwood Building but also extremely pleased to continue working with Truist Bank and the other companies that have found being a part of the Kenwood Community beneficial. Many have renewed with us multiple times.”
Kenwood Management Company is a Washington DC and Baltimore-based owner-operator with a 1.4M sf portfolio of medical, office, warehouse, and flex properties.
About Kenwood Management
Kenwood Management Company, headquartered in Bethesda, MD, has combined its internal equity with high-net-worth investors for over 25 years. With a portfolio of over 1.4M sf, including office, flex, medical, and warehouse spaces, their diversified multi-tenanted properties produce long-term returns for their investors.
The company is unique in investing in and solely managing all its properties. By having the management company also own, sponsor, and invest in each property, they build an environment where everyone’s interests align toward producing the highest returns possible for every investment. With Kenwood, investors can expect an approach that will meet their needs and make their efforts worthwhile.
Kenwood’s unique approach with tenants focuses on enhancing the landlord-tenant relationship by working with tenants to help their business succeed. This approach has helped Kenwood achieve higher occupancy and retain tenants long-term.
For more information about Kenwood Management and the company’s approach to commercial property management and multi-tenant real estate, visit www.kenwoodmgt.com/about-us.