CP Group Announces Over 32,000 SF of Leasing Activity at CapRock in Bethesda, Md

Following completion of capital improvements, recent deals include new tenants and renewals across financial services, healthcare, tech and professional services sectors

BETHESDA, Md.--(BUSINESS WIRE)--CP Group, a prominent owner-operator of office properties throughout the Sunbelt, along with a fund managed by DRA Advisors, announced today that it has executed over 32,000 square feet of leasing activity over the past six months at CapRock, the 709,313-square-foot Class-A office property in Bethesda, Md. Formerly known as Democracy Center, the three-building, 10-acre campus comprises two nine-story towers and one 15-story tower.

CP Group recently completed a multi-million-dollar repositioning to return CapRock to its heyday as a burgeoning and modern workplace destination following its 2023 rebrand. The renovations included a full transformation of the main building at 6903 Rockledge Drive, including a new two-story lobby, improvements to the entrance and grand arrival, a modernized fitness center, and a second-floor tenant lounge with a multi-room and multi-purpose conference center, an outdoor balcony, huddle and collaborative space, and a coffee bar.

The recent deals include new arrivals, renewals, and an expansion:

• FVLCRUM Partners LLC, an investment management firm, signed a lease for 8,196 square feet, relocating from an office in Rockville, Md. Ryan Miller of CBRE represented the tenant.
• T-Rex Solutions, an IT consultancy, renewed its lease for 5,744 square feet. Chris Feehley of Cresa represented the tenant.
• Avenue Wealth Management LLC, a wealth management firm, signed a lease for a newly completed, 5,357-square-foot spec suite. Jay Farmer of JLL and Rob Clark of Cushman & Wakefield represented the tenant.
• Constellation Software Engineering signed a lease for 5,357 square feet to establish a new Bethesda office, complementing its existing location in Annapolis. Mike Alcamo of TTA represented the tenant.
• Washington Vein Clinic, P.C., a medical treatment center, expanded its footprint to 5,351 square feet. Claire Joyce of TTA represented the tenant.
• Eliassen Group, a leading strategic consulting company, signed a renewal for 2,523 square feet, relocating to one of the newest spec suites on the 6^th floor. Dan Falls of CBRE represented the tenant.

Bernie McCarthy, Amanda Davis, Danny Sheridan, and Patrick Hall of JLL represented the landlord in all transactions.

“We’ve made significant investments in an elevated tenant experience at CapRock. From the redesigned lobby and amenity spaces to our successful spec suite program, the results speak for themselves,” said Josh Edwards, Senior Vice President at CP Group. “Industry leaders today want space that reflects their brand and engages their teams. By focusing our capital improvements on design, flexibility and placemaking, we’ve succeeded in attracting both emerging firms and established organizations looking for long-term value in the DMV market.”

CP Group’s renovations at CapRock’s 6903 building included the rollout of its "worCPlaces" spec suite program, delivering an entire seventh floor of move-in-ready workspaces complete with shared amenity space including tenant lounge and breakroom that are now fully leased. Due to demand, a second floor of spec suites is underway, two of which are preleased, is scheduled to deliver this month.

CapRock features additional onsite amenities including outdoor plazas, a café with outdoor seating, and on-site daycare. Conveniently located at the intersection of I-495 and I-270, the campus also provides direct access to Downtown Bethesda, Washington, D.C., and more than 30 dining options within a one-mile radius.

About CP Group

Founded in 1986, CP Group is a vertically integrated commercial real estate firm and value-add investor with deep market knowledge across the Sunbelt. The firm has acquired, repositioned, and operated over 170 office and mixed-use properties, totaling more than 64 million square feet and valued at over $8 billion. The firm applies its market expertise and integrated operations to deliver experience-driven environments that support tenant retention and maximize asset value. CP Group maintains offices in Atlanta, Boca Raton, Dallas, Denver, Jacksonville, Miami, and Washington, D.C. For more information, visit CPGcre.com.

About DRA Advisors

DRA Advisors LLC is a New York-based registered investment advisor with approximately 100 employees that specializes in real estate investment management services for institutional and private investors including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA’s inception in 1986, the firm has opened additional offices in Miami and San Francisco and has acquired approximately $43 billion of real estate. Its acquisitions include over 100 million square feet of industrial, 87,800 multifamily units, 95 million square feet of retail, and 66 million square feet of office. As of December 31, 2025, DRA had $12.6 billion in gross assets under management. http://draadvisors.com