West Watkins – Sold

Address 25, 35, 45 West Watkins Mill Road
Gaithersburg, MD (Washington, D.C.)
Property Type Three Office/Lab Buildings
Size 138,938 Square Feet
Primary Tenant AstraZeneca
Acquired July 24, 2015
Sold August 21, 2019
Syndicated October 9, 2015
Internal Rate of Return 19.4%
Average Annual Return 22.1%
Equity Multiple 1.87x
Highlights & Amenities:
  • State-of-the-art lab, industrial/flex, three-building office portfolio located in the Washington, D.C. suburb of Gaithersburg, .Maryland
  • West Watkins is strategically located in the heart of I-270 Corridor, “DNA Alley,” a region widely regarded as one of the nation’s most important and dynamic life sciences hubs.
  • DNA Alley is home to several large-scale federal government health agencies, including the National Institutes of Health, the National Cancer Institute and the Food and Drug Administration, as well as several world-renowned universities and research institutes, such as Johns Hopkins University, the University of Maryland, and the Howard Hughes Medical Institute.
  • West Watkins is leased to credit tenants including healthcare company MedImmune, a subsidiary of AstraZeneca.