Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GAITHERSBURG, MD-Montgomery County has inked a 341,692-square-foot lease here that not only will morph into an investment sale in 2014 but also puts a tenant into the market, seeking some 100,000 square feet.

It is a great deal for the county, says Curtis Paul, managing director of Newmark Knight Frank, who worked on the transaction along with Gary Glatter. Glatter is now with Cushman & Wakefield.

Situated on 52 acres, the building is at 100 Edison Park Drive, owned by a local LC. Montgomery County will be using the space to consolidate the police and fire headquarters, saving several millions in lease expenses, Paul tells GlobeSt.com. In 2014 the transaction converts to a building sale for approximately $80 million.

Now the tenant, GXS, represented by Studley, is seeking 100,000 square feet of space, he adds.

This was the biggest deal in the county so far, Amanda Tran, director of Research for McShea & Co., tells GlobeSt.com. “The federal and local governments are driving the suburban Maryland market right now – they’ve signed half of the top ten deals here this year.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.