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60,000-SF Building Brings $6.8M in Sale/Leaseback Deal

GAITHERSBURG, MD-Montgomery County Teachers Federal Credit Union sells its 60,000-sf building at 200 Professional Dr. The building goes to The Willamson Group in a $6.8 million transaction. The credit union has a leaseback arrangement and will continue to occupy its space in the building for the next three years.

By Barbra Murray | Updated on February 04, 2002

GAITHERSBURG, MD-Montgomery County Teacher’s Federal Credit Union has completed the disposition of its office building at 200 Professional Dr. in a $6.8 million deal. Advantis Real Estate Services Co. represented the seller in the sale of the 60,000-sf structure to The Williamson Group.

Built in 1983, the four-story building commanded the exact amount of the owner’s asking price. The space also offers 4.25 parking spots per 1,000 sf of office space. MCTFCU acquired the structure back in 1994, and Advantis represented the association in that transaction, as well. Speaking to GlobeSt.com, Advantis’ Catherine Goodrich Miller explains that “between 1994, when they purchased it and 2001, when they sold it, there was significant appreciation on the building.” MCTFCU paid $2.9 million for 200 Professional Drive in 1994, allowing the credit union to walk away with a $3.9 million profit seven years later.

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