Bruce McNair, Bill Morris, Will Travis and Josh Hartman of Grubb& Ellis Co. represented the tenant. The lease, which wasexpanded by some 3,000-sf brings the 164,891-sf, class A officebuilding to full occupancy, McNair tells GlobeSt.com.
In this submarket, he says, a fully occupied building is a bitunusual. "There has been a slowdown in tenant demand in the 270corridor. At that same time there is new construction all the wayfrom Rock Spring North to Gaithersburg." Asking rates in the ShadyGrove Rd. submarket range between $26 per sf to $37 per sf. "Thistransaction allows Avendra to maximize their operational efficiencyand accommodate future growth," he says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
