The new hires are part of Grubb & Ellis' efforts to jump start its Maryland platform, McGloon tells GlobeSt.com. "The Maryland office market has 65 million sf approximately. That is larger than many of the top markets in the country."
The life sciences industry is one area on which he intends to focus. McGloon headed the GVA Life Science practice closing some one million sf in life science/laboratory related transactions, according to a Grubb statement.
The Maryland market is not, however, so deep as to allow the group to break down into several industries, he adds. "We'll be looking at the market as a whole, not on an industry specific basis. However, the life sciences industry is very concentrated in Montgomery County. The 1-270 Corridor is nationally recognized as having a high concentration of these firms."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
