SoftMed Relocates to 71,500 SF Headquarters

SILVER SPRING, MD-Healthcare software systems developer SoftMed Systems has made the move to its new home in the 71,500-sf TecHill Two office building in WesTech Business Park. Terms of the company’s deal for the build-to-suit with developer Grosvenor are not available. However Grosveror’s 2000 annual report and account notes both Tech Hill One and TecHill Two–identical buildings accounting for a total of 150,000 sf of Class A office space–would be valued at approximately $16.7 million upon completion.

“Building a new headquarters for SoftMed represented the first build to suit that we have completed at WesTech Business Park and it was very successful,” Grosvenor’s Meg McGirr tells GlobeSt.com. “As the benefits of locating at WesTech become more well known, we believe that we will see more corporate relocations from the more expensive areas of Montgomery County.” Grosvenor owns the entire multi-structure WesTech Business Park, which it acquired in 1998.