ROCKVILLE, MD-The US General Services Administration is taking 75,056 square feet at 9800 Medical Center Dr. here. The 15-year lease is for the National Institutes of Health.
The GSA’s Jim Phelan and Glenn Harvey led the negotiations, along with Jones Lang LaSalle’s Joe Judge and Howard Traul. The building’s owner, Alexandria Real Estate Equities, was represented by Eddie Rose. The asset is a four-building complex located in the 290-acre Shady Grove Life Sciences Center, a research park developed for the biotechnology and health care industries. JLL did not return a call in time for publication.
Suburban Maryland has been seeing a steady pace of activity, great news, especially for the normally quiet month of August. Also in Rockville, Weingarten Realty Investors recently acquired a shopping center, Pike Center, for $54 million. In nearby Bethesda, a joint venture between Lowe Enterprises and Angelo Gordon purchased Executive Plaza, a two-structure office building for $36.75 million. Earlier this Spring, Rockville Corporate Center traded for $48.7 million. Then there is Federal Realty Investment’s project at Mid-Pike Plaza, soon to be renamed Pike & Rose. The REIT has begun phase one of the project’s $250 million redevelopment.
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