$22M Buys 130,000-SF Office Building

GAITHERSBURG, MD-The 130,000-sf office building at 400 Professional Dr. has become part of the Corporate Office Properties Trust portfolio, courtesy of a recent $22.4 million deal. Corporate Office took the class A building off the hands of seller Transwestern-Robinson I LLC. According to Montgomery County Records, the property’s proposed assessed value for mid-2004 is about $17 million.

A five-story structure situated within the Crown Point Office Park near I-270 and Rte. 355, 400 Professional Dr., is approximately four-years-old and boasts an occupancy level of 90%. Tenants include McLaren Consulting, IT firm Orange Technologies and Shannon & Luchs Insurance Agency.