The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today their role in the sale of a five-building, 217,983-square-foot, state-of-the-art office/laboratory campus plus adjacent land parcel in Rockville, Maryland, previously owned by the J. Craig Venter Institute (JCVI).
HFF senior managing directors Jim Meisel and Dek Potts and senior real estate analyst Jimmy Barter represented the buyer, BioMed Realty Trust, Inc. BioMed purchased the property from JCVI for $53 million. JCVI is leasing back the entire campus.
The JCVI property is located at 9704-9712 Medical Center Drive, adjacent to the 300-acre Shady Grove Life Sciences Center, and close to the National Institute of Standards and Technology and the National Institutes of Health in Rockville. Completed between 1995 and 2004, the property is fully occupied by JCVI, a not-for-profit world-leader in genomic research.
"JCVI is situated in the heart of the Interstate 270 Corridor, commonly known as 'DNA Alley', where the life sciences industry has been a growth engine for more than 20 years. This will be a beneficial transaction for both parties for a significant period of time," said Meisel.
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.
HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.
Contacts:
HFF
Senior Managing Director
James A. Meisel,202-533-2500
jmeisel@hfflp.com
or
Senior
Managing Director
Stephen "Dek" Potts, Jr.,202-533-2500
dpotts@hfflp.com
or
Associate
Director, Marketing
Kristen M. Murphy,713-852-3500
krmurphy@hfflp.com
