Kaiser Buys 45,000-SF Office for $15M

ROCKVILLE, MD-The 45,000-sf office building at 1396 Piccard Dr. trades for $15.4 million. Kaiser Foundation Health Plan of the Mid-Atlantic States, which leases the building for its Kaiser Permanente Shady Grove Medical Center, purchases the property from Triumph Development LLC.

By Barbra Murray | January 27, 2006 at 11:23 AM

According to Montgomery County real estate records, the property has a current assessed value of $12.7 million. It includes a parcel that can accommodate an additional 60,000 sf of space.

Kaiser's Shady Grove Medical Center is located at 1396 Piccard Dr., just one block off I-270. Ownership of the property last changed hands less than six months ago when Triumph purchased it from 1396 Piccard Property Co. Inc. for a flat $13 million.

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