The Grosvenor-developed business compound's newest building now has an occupancy level of 80%. The park's first building, the 62,500-sf office/lab structure built in 2001 at 5521 Research Park Dr., is completely occupied by RWD Technologies' Applied Technology Laboratory.
Located at the edge of Baltimore County just off I-95 and I-195, the 41-acre park sits adjacent to its collaborator, the University of Maryland, Baltimore County. Ultimately, the park will offer 330,000 sf of space spread out among five structures; 5523 Research is the second building to be erected. Grosvenor senior vice president Andrew Galbraith says tenants benefit from "close synergy" with the University. Financial specifics of PPI's and Edward and Kelcey's leases with park owner Grosvenor are unavailable; however space in the recently completed class A structure is marketed through Colliers Pinkard's David Gillece and Andrew Smith for $23.50 per sf.
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