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Suburban Maryland Deals Totaling $54M Close

GAITHERSBURG, MD-An 83,500-sf office/lab facility here and a 223,800-sf office portfolio in Lanham sell in separate transactions totaling approximately $53.8 million. Real estate services firm GVA Advantis is behind the deals, facilitating the transactions for both the sellers and buyers.

By Barbra Murray | Updated on October 04, 2005

GAITHERSBURG, MD-With real estate services firm GVA Advantis at the helm, an office/lab property and a four-structure office portfolio, totaling a combined 307,400 sf, have sold in two separate transactions valued at an aggregate $53.8 million. Dek Potts and Jim Meisel of Advantis’ Washington, DC office worked with Kevin McGloon of the company’s Bethesda office to close the transactions, serving as the sole brokers on the deals.

The Williamson Group sold the 83,500-sf office/lab building at 16020 Industrial Dr. to Alexandria Real Estate Equities for nearly $23.2 million. The facility is fully leased by BioVeris and sits on a nearly three-acre parcel in the biotech company-laden I-270 corridor in Gaithersburg. Developed in 1974, the property has a current assessed value of about $8 million.

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