ROCKVILLE, MD-Two investment offices sales have closed here for an aggregate of $53 million, brokered by HFF. One was the sale of 1701 and 1711 Research Blvd., a $17.5 million trade for a 104,703-square-foot office building and 177,000-square-foot development parcel. The other was 540 Gaither Rd., which traded in a $35.23 million transaction.
Moore & Associates sold the Research Blvd. buildings to BioMed Realty Trust, brokered by Jim Meisel and Dek Potts at HFF. Meisel and Potts also represented the seller, Seaton Benkowski & Partners, in the 540 Gaither Rd. transaction. Federal Partners purchased the building.
540 Gaither Road is a six-story, 133,895-square-foot building. Federal Partners is also assuming a $25 million loan on the property. One of three buildings that make up the Redland Corporate Center, 540 Gaither Rd. is fully leased to the Agency for Healthcare Research and Quality. One reason Federal Partners wanted the building was that there is a growing scarcity of large block space in the I-270 Corridor, according to a prepared statement by Darryl Asack of Federal Partners.
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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.
