CCLC has completed the disposition of its legacy medical office asset at 8401 Connecticut Avenue in Chevy Chase, selling the property for $40.1 million. The transaction marks the transfer of a long-held property that CCLC both developed and operated, and is framed by the firm as part of a broader effort to diversify its portfolio.
The medical office building totals 190,866 square feet and has been a fixture in the local market for more than five decades. According to the company, the sale opens the door for future growth initiatives as CCLC reallocates capital and continues to adjust its holdings. Details on the buyer and any associated financing were not disclosed in the source material.
Transwestern provided investment sales representation on the transaction. A team led by Executive Managing Director Gerry Trainor and professional Jim Cardellicchio represented CCLC in marketing and closing the property sale. Their mandate covered the disposition of a fully built, existing medical office building rather than a redevelopment or ground-up project.
CCLC President and CEO John Ziegenhein described the sale as both an endpoint and a strategic waypoint for the organization. He noted that the company has owned and operated the building for more than fifty years, underscoring the long-term nature of CCLC’s commitment to the site. The sale therefore reflects a deliberate portfolio decision rather than a short-term trade.
The property was originally developed by CCLC in 1971, positioning it as an established medical office asset within Chevy Chase. Over time, it has benefited from proximity to CCLC’s broader holdings, including nearby mixed-use assets. The existing building remains a medical office facility rather than an adaptive reuse or conversion play based on the information provided.
The site sits adjacent to Chevy Chase Lake, a mixed-use development that CCLC is pursuing in partnership with Bozzuto. That neighboring project introduces a blend of uses to the immediate area and reflects ongoing investment in the broader Chevy Chase Lake node. The relationship between the legacy medical office building and the newer mixed-use project anchors CCLC’s long-standing presence in the submarket.
In addition, 8401 Connecticut Avenue is located on the planned Connecticut Avenue Purple Line station. As a result, the building’s positioning along a future transit line is highlighted as a strength, enhancing its appeal to investors focused on transit-oriented locations. The planned station is expected to further integrate the property into the regional transportation network once delivered.
Commenting on the transaction, Transwestern’s Gerry Trainor cited the combination of location quality, sustained medical office demand, and tenant stability as contributing factors to investor interest. He characterized the asset as an attractive opportunity within one of the Washington area’s more established and resilient submarkets, emphasizing its role as a defensive, service-oriented office property grounded in healthcare usage.
