CP Group Closes More Than 35,000 SF of New Leases at CapRock in Bethesda, Led by JLL

CP Group and a fund managed by DRA Advisors have executed more than 35,000 square feet of new leasing activity at Caprock, the 709,313-square-foot Class A office campus at 6903 Rockledge Drive in Bethesda, Md., the firm announced. The deals, signed over the past three months, span six tenants and include three leases for phase-two spec suites within the campus's move-in-ready suite program. Bernie McCarthy, Amanda Davis, Danny Sheridan, and Patrick Hall of JLL represented the landlord in all transactions.

Six Tenants Drive Latest Leasing Round at CapRock

The six new leases account for more than 35,000 square feet of space across the campus. MCA of Metropolitan Washington, a nonprofit mechanical contractors organization, signed the largest deal in the tranche at 12,295 square feet; Rob Pugh of KLNB represented the tenant. Pioneer Office Leases, a flexible and on-demand office and meeting space provider, leased 8,905 square feet, with Andrew Colangelo of Clarefield Partners representing the tenant.

mPower, Inc., a business management consultancy, took 4,610 square feet, represented by Rashida Akhter of KLNB. IMC Construction, a commercial general contractor, signed a lease for a newly delivered 3,478-square-foot spec suite, with Charlegne Bogdanor of CBRE representing the tenant. Commcrete, a satellite communications company, leased a 3,807-square-foot spec suite, represented by Madeline Joyce of TTA. Haverford Construction Company, a home builder and land-development firm, signed a lease for a 2,780-square-foot spec suite, represented by Dan Klueger of TTA.

Spec Suite Program Advances to Third Phase

Three of the six new leases are for phase-two spec suites, reflecting continued absorption of CP Group's turnkey office program at the campus. To date, the firm has delivered more than 50,000 square feet of move-in-ready suites across two phases. With nearly all existing suites leased, CP Group said it is launching a third phase of suites ranging from 2,000 to 5,700 square feet, with delivery expected by the end of the year.

"This year, we've seen companies choose CapRock because they want space tailored to their needs without having to invest the time and cost of a traditional buildout," said Josh Edwards, Senior Vice President at CP Group. "By pairing turnkey spec suites with a reimagined campus and modern amenities, we've created an environment where today's companies can move quickly without compromising on quality or the workplace experience."

Campus Repositioning Follows Multi-Million-Dollar Capital Program

Formerly known as Democracy Center, the three-building, 10-acre campus comprises two nine-story towers and one 15-story tower. CP Group rebranded the property to CapRock in 2023 and subsequently executed a multi-million-dollar capital improvements program. Renovations at the main building at 6903 Rockledge Drive included a new two-story lobby, improvements to the entrance and grand arrival, a modernized fitness center, a second-floor tenant lounge with a multi-purpose conference center, an outdoor balcony, huddle and collaborative space, and a coffee bar. The campus also features outdoor plazas, a café with outdoor seating, and on-site daycare.

The latest leasing round follows a prior announcement in March in which CP Group reported more than 32,000 square feet of leasing activity at the property.

Location

CapRock is located at the intersection of I-495 and I-270 in Bethesda, providing direct access to Downtown Bethesda, Washington, D.C., and more than 30 dining options within a one-mile radius.