BioMed Realty Sells Rockville Vaccine Center For $338M
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In the DC area's biggest sale so far in 2017, a three-building, 635k SF vaccine research center in Rockville has just sold for $337.5M.
BioMed Realty, an affiliate of Blackstone, sold the GSK Global Vaccine Center to an unnamed buyer, with HFF brokering the deal. The buyer secured a loan from Goldman Sachs to acquire the property.
The property, at 14200 Shady Grove Road, is fully leased to a subsidiary of GlaxoSmithKline. HFF's Jim Meisel, part of the team that represented the seller, told Bisnow GSK has closed facilities in Wilmington, Boston and Brussels to consolidate in the Rockville facility.
"The facility is going to be the global vaccine center of the US, the only one of its kind here," Meisel said. "They are dedicating significant manpower and resources to make this a unique place, as well as combining a lot of the genetic brainpower that’s already here."