HFF Closes Sale of Gaithersburg, MD Office/Lab Buildings

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 55 and 65 West Watkins Mill Road, two flex office lab buildings totaling 82,405 square feet in Gaithersburg, Maryland.

HFF senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo) and senior real estate analyst Jimmy Barter led the investment sales team on behalf of the seller, RREEF. BioMed Realty Trust purchased the property for $14.385 million free and clear of debt.

55 and 65 West Watkins Mill Road are within Bennington Corporate Center in the Interstate 270 corridor in Gaithersburg, Maryland.

Completed in 1999, the properties consist of a 39,505-square-foot, two-story office building and a 42,900-square-foot single-story lab/office building. 55 West Watkins Mill Road is fully leased to MedImmune, and GenVec leases the entire 65 West Watkins Mill Road.

“This product clearly fits very well for BioMed as they seek to add to their Maryland portfolio,” said Meisel.

 RREEF Real Estate acquires and manages investments in commercial and residential property, and real estate securities on behalf of its institutional and private clients worldwide.

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. BioMed acquires, develops, owns and operates laboratory and office space.

Contacts:
James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com
Stephen "Dek" Potts Jr., HFF Senior Managing Director, (202) 533-2500, dpotts@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com