The hospital will take on almost half of the 71,400-sf Tech Hill One structure, which was just recently completed. Trammell Crow represented WestTech in the transaction, while Transwestern Commercial Services stood in for Children's. The terms of the deal are not being disclosed as parties involved have signed a confidentiality agreement.
"It's an open market as far as tenants are concerned, both Silver Spring and North Silver Spring," Transwestern's Jeffrey Fantle tells GlobeSt.com. WesTech is in the North Silver Spring submarket. "There's a tremendous amount of vacancy and a lot of pretty good deals are being made in that area." There is available space for lease remaining at the Tech Hill One building, and the park itself still has more than 700,000-sf available for development.
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