"Our client was somewhat handcuffed in their current location from a space perspective, making it difficult to support an ever-expanding base of government and private sector contract customers," says Cushman & Wakefield's Bob Schap.
Cushman & Wakefield represented the tenant in the transaction, while MIE represented itself. "The Riverside location provides substantial operational flexibility for BBI Biotech's Mid-Atlantic operations to comfortably grow well into the future, with reasonable economics and minimal timing risk."
MIE was unavailable for comment. Flex space in Frederick goes for an average of $10.25 per sf, according to Advantis Real Estate Services First Quarter 2004 Flex/Industrial Report.
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