The building is an 89,000-sf, six-story building on Rockville Pike, located about 15 yards from the Rockville metro station. The building has already leased out 8,000 sf.
The NRC's newly signed lease is bringing the building close to full occupancy, McAndrew says. "Floors two through six are now full. All that is left is a 6,000-sf space on the first floor." NRC liked the location because it has another building at the nearby White Flint metro, McAndrew says. "They liked the idea of employees being able to jump on the metro to get to meetings quickly."
McAndrew says the building is one of the few in this submarket developed on spec that has been able to quickly lease up. "On 270 right now there are a handful of buildings that were developed around the same time period--over the last year-and-a-half that are still looking for tenants." Asking rates for 21 Church St. are $37.50 per sf.
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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.
