The Station Square office complex in downtown Silver Spring will be auctioned off this month due to foreclosure.
Station Square comprises three adjacent towers at 1010 and 1100 Wayne Ave. and 8484 Georgia Ave., just a block east of the Silver Spring Metro and Purple Line stations. According to the Washington Business Journal, the buildings will be sold at a public auction on June 18, following the borrower’s default on the financing linked to the properties.
The financing’s outstanding balance is not publicly available.
Atlanta-based Bridge Office Fund Manager LLC acquired Station Square in 2019 and, at the time, planned to invest more than $12 million in renovations to the complex’s buildings, which range from 10 to 14 stories tall and were built between 1982 and 1987. According to WBJ, each building occupies just over half an acre, for a combined total of nearly 1.7 acres.
Current tenants include streaming service CuriosityStream, which launched in 2015; Planet Fitness, which opened in 2017; EnCompass LLC, which relocated to Station Square from Rockville in 2022; and Java Nation, which opened earlier this year.
Photo Courtesy of Bridge Investment Group