X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARBUTUS, MD-Two tenants have inked deals for nearly 25,000 sf of space at the 60,000-sf office/lab facility at 5523 Research Park Dr. within the [email protected] Research and Technology Park. Physicians Practice Inc., a healthcare information and services provider to medical practices, committed to 16,100 sf on the three-story building’s second floor; while engineering, design and construction management firm Edwards and Kelcey took on a space of nearly 9,400 sf.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.