Metro Park North is located on Gude Drive at Route 355 and is a fairly new complex. The last of the four buildings was completed in the spring of 2000. The campus sits in the heart of the I-270 Technology Corridor and is surrounded by companies such as Williams Telecommunications, CAN Insurance and General Electric Corp.
"Our typical business model is to not hold on to projects long-term," Crimson partner, development and construction, Mitch Bonanno tells GlobeSt.com. The property had been listed in July 2001, but Crimson pulled it off the market due to unsatisfactory offers. This time around, the company had no problem finding interested parties with suitable proposals. The change in climate, Bonanno believes, was not effected by the terrorist attacks late last summer. "I can't say that September 11 had any great impact on the pricing of the market," he says. "It probably made financing tougher for people, but in terms of pricing, it really did not affect us. Part of that is due to the fact that we had a strong tenancy." The buildings are nearly leased to capacity with tenants such as Montgomery County, Ericsson and NextLinx.
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