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ROCKVILLE, MD-Now that it has found a new home in the vicinity, Human Genome Sciences Inc. has decided to put its 320,000-sf biotechnology property up for sale or lease. The company is relying on the assistance of real estate services firm Scheer Partners Inc. to find a new tenant for the fully-equipped research and development facility. Asking rates at the former HGSI headquarters are being marketed from the mid-$20 to low-$30 range.

Located at 9800 Medical Center Dr. in the 300-acre Shady Grove Life Science Center, HGSI’s top-of-the-line group of two- and three-story structures consists of a 140,000-sf building, a 73,000-sf building, a 61,000-sf space and a 45,000-sf structure. The property is approved for an expansion of 50,000 additional sf.

“We have already had multiple inquiries from both users and investors without the property officially being on the market,” says Ken Berkman, Scheer Partners executive vice president and regional manager. “Its premier location at the entrance to the Life Science Center, ability to offer a range of space options from 20,000 to 320,000 sf with existing infrastructure presents a rare opportunity for companies in this market to relocate to the most identifiable laboratory building in the region.” If the property sells, HGSI could walk away with a bundle; Novartis recently disposed of a similar property for a whopping $290 per sf.

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