Maryland's TecHill center sold
Class A buildings fully occupied at closing
By Inman News, Wednesday, April 2, 2008.A private investor participating in the Grubb & Ellis Wealth Management Program has purchased a two-building office complex in Silver Spring, Md., for an undisclosed price.
ING Clarion Partners LLC sold the property, TecHill I & II, on behalf of an institutional client.
Completed in 2000 and 2002, TecHill I & II is comprised of two class A buildings, each offering approximately 71,500 square feet of rentable area, totaling nearly 143,000 on 7.4 acres of land. Located at 12211 and 12215 Plum Orchard Road, the three-story buildings were 100 percent leased at the time of sale to two major tenants, 3M Health Information Systems Inc. and Children's Hospital.
On-site parking is available at a ratio of 3.9 spaces per 1,000 feet, totaling 531 spaces in all, according to a press statement.
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