The Daley at Shady Grove – Bozzuto, EYA Sell Rockville Apartment Building 2 Years After Completion

Bisnow

July 24, 2019

Courtesy of JLL The Daley at Shady Grove, a 333-unit apartment building with retail in Rockville

A new apartment building near the western terminus of the Red Line has just traded hands.

Bozzuto and EYA sold The Daley at Shady Grove, a 333-unit apartment building with 15K SF of retail, to Denver-based Black Creek Group for an undisclosed price, JLL announced Wednesday.

JLL’s capital markets team of Walter Coker, Brian Crivella, Stephen Conley and Susan Carras brokered the deal while at HFF prior to the July 1 merger of the two firms.

The Rockville development delivered in June 2017 and the property was last assessed at around $77M in January 2018, according to property records. At 8010 Gramercy Blvd., the building sits next to the Shady Grove Metro parking lot, about a quarter-mile from the station’s entrance.

The apartments average 831 SF, and the building’s amenities include a pool, a courtyard, a fitness center, a business center and a clubroom. Its retail space is occupied by Starbucks and Westwide Wine Cellar & Beer.

The building is the first phase of Westside at Shady Grove Metro, EYA and Bozzuto’s 45-acre development planned to be built in four phases. It is ultimately slated to include 1,114 apartments, 407 townhouses, 37K SF of retail, 130K SF of office and a public library. The next phase, including 267 apartments and 23K SF of retail, is expected to deliver in spring 2020, according to Bozzuto’s website. KTGY Architecture served as the designer for the development.