ROCKVILLE, MD–Blackstone's BioMed Realty has sold the GSK Global Vaccine Centre here for $337.5 million. The three-building vaccine R&D facility totals some 635,058 square feet and is fully leased to a subsidiary of GlaxoSmithKline.
HFF's Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson represented the seller. HFF also arranged an acquisition loan for the unnamed buyer through Goldman Sachs. Kevin MacKenzie, Cary Abod and Lee Redmond led the debt placement team.
Built in 2003, the complex is situated on a 28.09-acre site at 14200 Shady Grove Rd. in the I-270 corridor, the so-called DNA Alley because of the abundance of life science companies located in the market to say nothing of the close presence of the National Institutes of Health, the National Cancer Institute Headquarters, the USFood and Drug Administration, the University of Maryland Shady Grove Life Sciences Center and Johns Hopkins University Belward Campus.
Indeed last year Maryland ranked No. 6 on the top 10 US life sciences clusters in 2016 in JLL's Annual Life Sciences Outlook Report, up from No. 13 in 2015, a ranking propelled by such developments as the recent $510 million US Army Medical Research Institute of Infectious Diseases in Frederick and the last year's expansion by Novavax of close to 150,000 square feet.
The largest transaction, though, was Blackstone's $8 billion acquisition of BioMed Realty Trust, a deal that was first announced in 2015.
ROCKVILLE, MD–Blackstone's BioMed Realty has sold the GSK Global Vaccine Centre here for $337.5 million. The three-building vaccine R&D facility totals some 635,058 square feet and is fully leased to a subsidiary of
HFF's Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson represented the seller. HFF also arranged an acquisition loan for the unnamed buyer through
Built in 2003, the complex is situated on a 28.09-acre site at 14200 Shady Grove Rd. in the I-270 corridor, the so-called DNA Alley because of the abundance of life science companies located in the market to say nothing of the close presence of the National Institutes of Health, the National Cancer Institute Headquarters, the USFood and Drug Administration, the University of Maryland Shady Grove Life Sciences Center and Johns Hopkins University Belward Campus.
Indeed last year Maryland ranked No. 6 on the top 10 US life sciences clusters in 2016 in JLL's Annual Life Sciences Outlook Report, up from No. 13 in 2015, a ranking propelled by such developments as the recent $510 million US Army Medical Research Institute of Infectious Diseases in Frederick and the last year's expansion by Novavax of close to 150,000 square feet.
The largest transaction, though, was Blackstone's $8 billion acquisition of BioMed Realty Trust, a deal that was first announced in 2015.
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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.
