Speaking to GlobeSt.com, Paul J. Collins of Cassidy &Pinkard, the real estate services firm that represented the seller,attests that there was a significant amount of interest in theportfolio. "It was marketed widely," he says, and in the end, "weended up with a handful of offers."

Situated in the middle of the I-270 Corridor in MontgomeryCounty, the 48-acre Decoverly Office Park boasts a strategiclocation within sight of the Montgomery County Life SciencesCenter, the Johns Hopkins Center for Advanced Studies, and theUniversity of Maryland's Center for Advanced Research inBiotechnology.

The two existing office structures involved in the deal--the78,000-sf Building Two and the 77,000-sf Building Three--weredeveloped in 1987 and 1989, respectively, and have a total assessedvalue of approximately $23 million. At the time of the deal,Building Two was fully leased to Spirent Communications, andBuilding Three was leased out up to an 83% occupancy level bySpirent and Network Associates.