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GAITHERSBURG, MD-With real estate services firm GVA Advantis at the helm, an office/lab property and a four-structure office portfolio, totaling a combined 307,400 sf, have sold in two separate transactions valued at an aggregate $53.8 million. Dek Potts and Jim Meisel of Advantis’ Washington, DC office worked with Kevin McGloon of the company’s Bethesda office to close the transactions, serving as the sole brokers on the deals.

The Williamson Group sold the 83,500-sf office/lab building at 16020 Industrial Dr. to Alexandria Real Estate Equities for nearly $23.2 million. The facility is fully leased by BioVeris and sits on a nearly three-acre parcel in the biotech company-laden I-270 corridor in Gaithersburg. Developed in 1974, the property has a current assessed value of about $8 million.

In Lanham, Advantis orchestrated AG/Corporate Center LLC’s disposition of the Maryland Corporate Center in a $30.6-million transaction with buyer Colony Realty Capital. The multistructure office portfolio consists of the 51,600-sf building at 7501 Forbes Blvd., the 31,100-sf 7401 Forbes Blvd., the 64,500-sf 7375 Executive Pl. and the 76,600-sf 7404 Executive Pl.; the structures were built in 1984, 1986, 1988 and 1990, respectively. Maryland Corporate Center–home to Lockheed Martin, Northrop Grumman and General Dynamics–has an average occupancy level of 89% and a total assessed value of $19.2 million.

“We were pleased by the amount of interest we generated from both private and institutional investors for each one of these assets,” Meisel says, referring also to the recent $10.5-million sale of an office building in Richmond, VA. “It is clear that the plentiful supply of capital searching for real estate investments will continue to keep pricing at very attractive levels for stabilized as well as value-add properties.”

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