The Aspen Ridge Medical Office Portfolio totals 91,220 square feet in an affluent DC suburb

Washington, DC — Avison Young today announced that it has negotiated the sale of the Aspen Ridge Medical Office Portfolio, three medical office buildings in the fast-growing, affluent Washington suburb of Frederick, MD.

BentallGreenOak purchased the 91,220-square-foot portfolio for an undisclosed price from Ausherman Properties.

Representing the seller was an Avison Young team led by Jim Kornick and Mike Wilson, Principals and co-leaders of the firm’s US Healthcare Capital Markets practice; and Erik Foster, Principal and Head of the firm’s Industrial Capital Markets practice.

“Competition for the property exceeded our expectations,” Kornick said. “The quality of the buildings, the strength of the tenants and the attractive demographics of affluent, fast-growing Frederick appealed to every kind of investor — institutional and private.”  

Aspen Ridge consists of two one-story medical office buildings, one completed in 2014 and the other in 2015, and a two-story medical office building built in 2017.

The buildings range in size from 21,264 sf to 47,727 sf. They are 92% leased to 16 tenants, including Johns Hopkins, Frederick Health, MedStar, Quest, LabCorp, and Fresenius.

The offices are located within “Doctors Row” on Thomas Johnson Drive, where many of Frederick County’s physician offices are clustered. The offices are convenient to the City of Frederick as well as the rest of Frederick County via nearby U.S. Route 15.

The buildings are situated together at 161, 163 and 165 Thomas Jefferson Drive in Frederick, just 50 miles northwest of Washington. Located close by are the Frederick Health’s outpatient services campus, the James M. Stockman Cancer Center, the Frederick Health Hospital and the planned Frederick Health Village.