Advantis Real Estate Services Co. arranged three recent transactions involving mixed-use properties in Maryland and Virginia.
The total value of the transactions was approximately $64.3 million.
In the first transaction, The Williamson Group sold 16020 Industrial Drive, located in Gaithersburg, Md., for approximately $23.2 to Alexandria Real Estate Equities, a REIT that specializes in the ownership and development of office/laboratory buildings. The property is a two-story, 83,541-square-foot office/lab building on a 2.8-acre parcel. It was 100 percent leased to BioVeris on a triple-net basis at the time of sale.
In the second transaction, AG/Corporate Center LLC sold the portfolio known as Maryland Corporate Center in Greenbelt, Md., for $30.6 million to Colony Realty Capital, a private real estate investment and management firm. The 223,847-square-foot portfolio consists of four buildings that were originally constructed in the 1980s. Maryland Corporate Center was 88.6 percent leased at the time of sale to national credit tenants such as Lockheed Martin, Northrop Grumman, General Dynamics and Nationwide Mutual.
In the third transaction, Chambertin LP sold Brookfield Commons for approximately $10.5 million to Direct Invest LLC, a Boston-based investor focusing on acquiring properties via TIC (Tenant In Common) ownership structures. The property, located at 6600 West Broad St. in Richmond, Va., is a 91,186-square-foot office building constructed in 1977. At the time of sale, the property was 95 percent leased to tenants including MetLife, Comcast and The Virginia State Lottery.
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