New Owner on Kennett – Buchanan Ptnrs. Buys Former Discovery Space
A vestige of Discovery Communications’ stay in Silver Spring belongs now to Buchanan Partners.
Bethesda-based Buchanan, in a 1031 Exchange, paid $8.6 million for 8045 Kennett Street, a 148,530 square foot building that Discovery used for its production facilities. But Discovery’s relocation to New York spelled the end of that need. Buchanan acquired the building empty, and the firm’s Jimmy Roembke said the coming use is ‘still to be determined.’ “We are working through our options right now,” he said.
What Buchanan has is a relatively unique building sitting on 1.75 acres off East West Highway near Blair Mill Road. With the high ceilings of a department store, the building had been fitted out for offices and data center use by Discovery, with some of the touches that Discovery was famous for, like collaborative open areas.
Before that, 8045 Kennett had been a Caldor’s department store, a name still often associated with the property. Going forward, the County’s Downtown Silver Spring Plan recommended adaptive reuse in some way, but offered no specifics.
Megan Williams, Peter Rosan and Kevin McGloon at Cushman and Wakefield brokered the sale.