With the assistance of GVA Advantis, Four Research Place LLC sold the property 15 years after having acquired it for approximately $3.1 million. Located off Interstate 270 in North Rockville, 4 Research Pl. was developed in 1969.
The property is half-leased to a handful of tenants including ABS Consulting and Strayer University, which leased 20,000 sf at the locale last year. The building was last upgraded in 1992 and 1994. The new owner plans to submit the property to renovations, as well.
"Given the visibility from I-270 and the convenient suburban location, 4 Research Pl. offers a tenant an ideal headquarters location," WPC president Charles K. Nulsen III says. While no firm plans have been put in place for future developments at the site as of yet, a company spokesperson tells GlobeSt.com that plans are in the works. Zoning options allow for office, office condominium or laboratory buildings.
WPC will oversee leasing responsibilities at 4 Research Pl., where space is presently being marketed for $24.51 per sf. WPC Management LLC will be responsible for managing the property.
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