CP Group Announces Over 32,000 SF of Office Leasing Activity at CapRock Campus in Bethesda, MD

CP Group, an owner-operator of office properties throughout the Sunbelt, and a fund managed by DRA Advisors have executed more than 32,000 square feet of leasing activity over the past six months at CapRock, a 709,313-square-foot Class-A office campus in Bethesda, Maryland, the firms announced.

The activity spans six transactions — including new leases, renewals, and an expansion — at the three-building, 10-acre campus located at 6903 Rockledge Drive. Located at the intersection of I-495 and I-270, the property comprises two nine-story towers and one 15-story tower and was formerly known as Democracy Center before a 2023 rebrand.

Repositioning and Capital Improvements

CP Group recently completed a multi-million-dollar repositioning of CapRock's main building at 6903 Rockledge Drive. Renovations included a new two-story lobby, improvements to the entrance and grand arrival sequence, a modernized fitness center, and a second-floor tenant lounge featuring a multi-room conference center, an outdoor balcony, huddle and collaborative space, and a coffee bar.

As part of the repositioning, CP Group launched its "worCPlaces" spec suite program, delivering an entire seventh floor of move-in-ready workspaces with shared amenity space, including a tenant lounge and breakroom. That floor is now fully leased. Due to demand, a second floor of spec suites is underway, with two units preleased and delivery scheduled for the current month.

"We've made significant investments in an elevated tenant experience at CapRock. From the redesigned lobby and amenity spaces to our successful spec suite program, the results speak for themselves," said Josh Edwards, Senior Vice President at CP Group. "Industry leaders today want space that reflects their brand and engages their teams. By focusing our capital improvements on design, flexibility and placemaking, we've succeeded in attracting both emerging firms and established organizations looking for long-term value in the DMV market."

Six Tenants Comprise the Latest Leasing Activity

The six transactions executed over the past six months include the following:

• FVLCRUM Partners LLC, an investment management firm, signed a new lease for 8,196 square feet, relocating from an office in Rockville, Maryland. Ryan Miller of CBRE represented the tenant.
• T-Rex Solutions, an IT consultancy, renewed its lease for 5,744 square feet. Chris Feehley of Cresa represented the tenant.
• Avenue Wealth Management LLC, a wealth management firm, signed a lease for a newly completed, 5,357-square-foot spec suite. Jay Farmer of JLL and Rob Clark of Cushman & Wakefield represented the tenant.
• Constellation Software Engineering signed a lease for 5,357 square feet to establish a new Bethesda office, complementing its existing location in Annapolis. Mike Alcamo of TTA represented the tenant.
• Washington Vein Clinic, P.C., a medical treatment center, expanded its footprint to 5,351 square feet. Madeline Joyce of TTA represented the tenant.
• Eliassen Group, a strategic consulting company, signed a renewal for 2,523 square feet, relocating to one of the newest spec suites on the sixth floor. Dan Falls of CBRE represented the tenant.

Bernie McCarthy, Amanda Davis, Danny Sheridan, and Patrick Hall of JLL represented the landlord in all six transactions.

Campus Amenities and Location

CapRock offers on-site amenities including outdoor plazas, a café with outdoor seating, and on-site daycare. Located at the intersection of I-495 and I-270, the campus provides direct access to Downtown Bethesda, Washington, D.C., and more than 30 dining options within a one-mile radius.