Gaithersburg has been experiencing an uptick of slow but steadyactivity over the last several months, much of it driven by its lifesciences cluster. Montgomery County sublet 341,962 square feet at 100Edison Park Dr. in the submarket in just one deal last year. Also,the FDA and GSA renewed a total of 264,262 square feet at fourdifferent locations in the county. MedImmune, not surprisingly givenits huge footprint in the area, has been a driver behind a few deals.Last year it leased 50,000 square feet at 950 Wind River Ln., a newlypurchased building whose sale was based on the lease.
Montgomery County is one of the world's most productive life sciencemarkets, BioMed CEO Alan Gold noted in a statement. One reason helikes this particular transaction is because it is adding two premiertenants to its roster--MedImmune and GenVec.
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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.
