JLL Brokers Sale of 36-Acre Life Science Campus in Rockville
JLL has arranged the sale of the Shady Grove Life Science Portfolio, a 35.5-acre life science campus in Rockville, MD. The sales price was not disclosed.
The portfolio consists of two, three-story office/lab/academic buildings totaling 94,257 square feet at 9601 Medial Center Dr; two pad sites with 250,000 square feet of entitled life science density adjacent to 9605 Medical Center Dr. and three ground leases offering secure, long-duration cash flow at 9609/9613, 9615 and 9605 Medical Center Dr. The portfolio is located in the Interstate 270 Corridor.
Jim Meisel, Dave Baker, Andrew Weir and Matt Nicholson of JLL represented the undisclosed seller in the transaction. The buyer was also undisclosed.
“The Shady Grove Life Science Portfolio offered a rare opportunity to acquire a scalable block of life science density immediately available for conversion or development in proximity to major demand drivers,” said Meisel. “Large-block lab availability is extremely limited along the I-270 Corridor and will lead to continued robust rent growth.”
- ◦Sale/Acquisition