Built in 1986, Woodmont Place is located at 1401 Rockville Pike. The last tenant in the building was the US Food & Drug Administration, which recently vacated the space in a consolidation, Tonya Ginter, director of research and marketing for GVA Advantis tells GlobeSt.com.

1401 Rockville Pike's sales price was a lower per sf price than recent market comps, she notes, and the 100% vacancy of the building is likely the reason. The last recorded sale in Rockville was the JBG Cos. purchase of 5630 Fishers Ln., a 54,000-sf class B building, which Juno Capital Corp. sold for $231.48 per sf. That building is fully leased to the FDA.

The FDA's vacancy also caused Rockville's overall occupancy levels to take a hit, Ginter also notes, with the submarket's vacancy rate rising in 2007 to 8.6% from a 2006 rate of 5.9%. "Leasing activity still remains steady in the Rockville submarket, however, as evidenced by NRC's recent lease in January," she says. The Nuclear Regulatory Commission inked a 75,000-sf office lease at 21 Church St., a 89,00-sf, six-story building on Rockville Pike. Church St. is one of the few buildings in this submarket that was developed on spec and able to lease up quickly, according to Jovi McAndew, SVP with Transwestern's leasing group who brokered the transaction.