Rockville Office Building With Life Sciences Tenants Sells For $33M
The continued strength of Montgomery County s life sciences market has attracted a Florida-based investor.
Morning Calm Management paid $32.7M to acquire the Twinbrook Office Center, a Rockville office building with biotech and life sciences companies comprising nearly half of its tenancy, Newmark announced Tuesday.
Ivy Realty sold the asset, a six-story, 164K SF building that sits on a 2.4-acre site at 1700 Rockville Pike, across the street from the Twinbrook Metro station. It is located in an opportunity zone and has potential for additional development, according to Newmark. Newmark Executive Managing Directors Jud Ryan, James Cassidy and Cliff Cummings brokered the deal