MGP Buys 240,000-sf Complex for $24 Mil

GAITHERSBURG, MD-MGP Real Estate bought 910 and 930 Clopper Rd. off Interstate 270 in Gaithersburg for about $24 million. The two two-story Class B buildings are 98% occupied by three high-tech and biotech tenants.

By Mike Cleary | October 12, 2000 at 01:01 AM

The buildings are about 98% leased. Novartis leases but does not occupy the 60,000-sf lab building at 930 Clopper Rd., subleasing it to another tenant. Fusion UV Systems, Genetic Therapy and Scientech are tenants in the complex.

The real estate investment trust Boston Properties sold the buildings because they didn't fit the company's portfolio. Cassidy & Pinkard represented the seller. MGP represented itself.

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