Occupied BioTech Building Sells for Nearly $9M

ROCKVILLE, MD-An $8.5 million transaction has left the 58,700-sf biopharmaceutical manufacturing facility at the 300-acre Shady Grove Life Science Center in the hands of a new owner. With the assistance of Scheer Partners Inc., the Buccini/Pollin Group sold the single-story structure to Alexandria Real Estate Equities.

Carrying the address of 9920 Medical Center Dr., the building sits off I-270 just a stone’s throw from the Shady Grove Adventist Hospital. The facility was developed by Buccini/Pollin as a build-to-suit project in 1998 and is home to BioReliance Corp., which occupies the space under a long-term lease. But it was not just the strong tenancy that proved attractive to potential buyers.