GAITHERSBURG, MD-An office building owned by an affiliate of Boston Properties Inc. was sold at a foreclosure auction for $9 million. The Gaithersburg office building was sold after the company, which took out a $25-million loan in 2007 to finance the complex, defaulted on the loan.
The 123,400-square-foot Montvale Center property is located at 18310 Montgomery Village Ave. As reported by the Maryland Department of Assessments and Taxation, the property is valued at $17 million. For the full story, go to Washington Business Journal .
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