GAITHERSBURG, MD-Through its operating partnership, Saul Centers paid $4.2 million, or about $140 per sf, to its affiliate company, B.F. Saul, for a 30,000-sf office/flex building next to the Avenel Business Park.
The acquisition increases Saul Centers' holdings in the park to 389,000 sf. The initial cash yield on the purchase price is 10%. B.F. Saul is a limited partner in the Saul Centers operating partnership.
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