Office/Flex Property Sells for $33M

GAITHERSBURG, MD-A recent $33 million deal has led to the change in ownership of Tech 270, a 182,400-sf office/flex facility in the I-270 Corridor. Tech 270 LLC sold the property, which has a current assessed value of $16.6 million, to Alexandria Real Estate Equities Inc., a REIT focused on the acquisition, development and operation of office/laboratory properties.

Tech Park 270 was developed in 1982 on a nearly 11-acre parcel at 910 Clopper Rd. Tenants at the two-story building include Fusion UV Systems Inc., Scientech Inc., Intronn Inc., the first occupant at the property, and Johnson Controls.