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Research Facility in Rockville’s Shady Grove Cluster Trades for $26M
CBRE has completed the $25.5-million sale of a two-building, 180,000-square-foot research facility in the Shady Grove cluster in Rockville, MD. The buildings are currently vacant.
Tommy Cleaver, Dan Grimes and Stuart Kenny of CBRE represented seller Westat, an employee-owned research company.
According to CBRE, Shady Grove has a 0.4% vacancy rate.
“Two themes remain consistent: the life sciences industry wants to grow here, and we have no space available,” said Cleaver. “Investors remain attracted to the near-term supply/demand imbalance, as well as the depth of our R&D talent pool which provides a fertile runway for long-term growth.”
CBRE’s recent Life Sciences Research Talent 2022 report ranks the Washington, DC/Baltimore life sciences cluster #2 in the US for life sciences research talent. Significant numbers of existing and emerging talent helped propel Washington D.C./Baltimore to the #2 ranking.
- ◦Sale/Acquisition
