Comstock Acquires Development Site in Rockville, MD
Retrieved on:
Tuesday, December 26, 2023
Building Systems, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Transportation, Professional Services, Travel, Other Transport, Rail, Asset Management, Transport, Urban Planning, Landscape, Public Transport, Architecture, Other Construction & Property, Acquisition, Charles Street (Baltimore), BLVD, CHCI, City, Rockville Town Center, Retail
Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that it has completed the acquisition of an 18,150 square foot land parcel located at 41 Maryland Avenue in Rockville, Md.
Key Points:
- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that it has completed the acquisition of an 18,150 square foot land parcel located at 41 Maryland Avenue in Rockville, Md.
- (“Comstock 41”) through a wholly owned subsidiary for $1.5 million.
- Comstock 41, currently a surface parking lot, has existing entitlements for at least 117 dwelling units and approximately 11,000 square feet of retail space.
- “This strategic, debt-free acquisition of entitled land adjacent to Comstock assets at Rockville Metro Station provides an opportunity to further grow revenue and earnings,” said Christopher Clemente, Comstock’s Chairman and Chief Executive Officer.