Advantis Real Estate Services Co., a partner in GVA Worldwide (Advantis/GVA), brokered the recent sale of 9 West Watkins Mill Road in Gaithersburg, Md.
The value of the transaction was $25.6 million.
The property, constructed in 1999, is a two-story laboratory facility located off Clopper Road. The building, which was 100 percent vacant at the time of sale, contains approximately 88,024 square feet of rentable space of which a combined 44 percent is laboratory and 12 percent is Vivarium space.
Novartis sold the property to Alexandria Real Estate Equities, a REIT specializing in the ownership of properties that hold laboratory and office space.
Advantis/GVA is a full-service real estate company that leases, manages and sells office, industrial, retail and other commercial real estate.
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