CP Group Secures 35K SF in New Leases at Bethesda’s CapRock — CP Group

Event summary

CP Group and a DRA Advisors-managed fund leased over 35K SF at CapRock in Bethesda, MD, within the last three months.
The leases include deals for newly completed spec suites, following a previous announcement of 32K SF in March.
CapRock, a 709K SF Class-A office property, has undergone a multi-million-dollar capital improvements program since CP Group’s 2023 rebrand.
The property features modern amenities such as a transformed lobby, fitness center, tenant lounge, and outdoor spaces.

The big picture

CP Group’s recent leasing activity at CapRock underscores the growing preference for turnkey office solutions, particularly in the Sunbelt. The firm’s strategic repositioning of the property, coupled with DRA Advisors’ investment management expertise, highlights a broader trend toward modernizing office spaces to attract tenants seeking move-in-ready environments. With over $8 billion in managed assets and a focus on value-add investments, CP Group is well-positioned to capitalize on this shift.

What we're watching

Lease Velocity: The pace at which CP Group fills its newly launched third phase of spec suites, ranging from 2K to 5.7K SF.
Market Demand: Whether the demand for turnkey office space in the Sunbelt region will continue to drive leasing activity at CapRock and similar properties.
Property Repositioning: How CP Group’s multi-million-dollar capital improvements program impacts tenant retention and asset value at CapRock.