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Washington DC & Mid-Atlantic  + DC Metro  + Office  |  September 28, 2021
Two Washingtonian office building Gaithersburg MD Washington DC commercial real estate
Paul Bubny
By: Paul Bubny

PRP Trades Net-Leased Gaithersburg Offices for Reported $119M

PRP has sold Two Washingtonian, a 294,000-square-foot office building in Gaithersburg, MD that is 100% net leased to Leidos, for a reported $119 million. The buyer was a domestic insurance company. 

Leidos is an investment-grade global science and technology company providing technology and engineering services and solutions to a variety of industries. SRS Real Estate Partners’ Andrew Fallon and Rick Fernandez brokered the sale. 

“We have worked hard to build a large portfolio of the highest quality credit net lease office assets in Tier 1 markets in the United States,” said Paul C. Dougherty, PRP’s founder, president and CIO. “As we continue to drive value for our investors and partners, we will selectively sell these assets. Two Washingtonian has been a very successful investment for the firm, and we are excited for the new owners as they have acquired a great asset leased by a dynamic and growing company in Leidos.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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