The transaction was brokered by Dek Potts and Jim Meisel, both from the Washington, DC office of GVA Advantis.
Recent comparable sales in Rockville include 4 Research Pl., a 77,000-sf building that traded at $165 per sf. 2 Research Pl., a 45,000-sf office building, also sold recently for $180 sf. They were 47% and 65% occupied at the time of sale, respectively.
Rental rates for North Rockville, the building's submarket, range from $26 per sf to $27 per sf overall; class B buildings such as 15201 Diamondback Dr. typically receive $24.50 per sf. At a 11.2% vacancy rate, North Rockville is in a slightly slower growth mode than the rest of Montgomery County.
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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.
