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MGP Buys 240,000-sf Complex for $24 Mil

GAITHERSBURG, MD-MGP Real Estate bought 910 and 930 Clopper Rd. off Interstate 270 in Gaithersburg for about $24 million. The two two-story Class B buildings are 98% occupied by three high-tech and biotech tenants.

By Mike Cleary | Updated on October 12, 2000

GAITHERSBURG, MD-MGP Real Estate LLC has acquired 910 and 930 Clopper Road off Interstate 270 in Gaithersburg, MD. The real estate investment firm paid about $24 million, or $98 per sf, for the two buildings, which total 240,000 sf. Both are two-story class B structures.

The buildings are about 98% leased. Novartis leases but does not occupy the 60,000-sf lab building at 930 Clopper Rd., subleasing it to another tenant. Fusion UV Systems, Genetic Therapy and Scientech are tenants in the complex.

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