85,231 SF Industrial Property in Rockville, MD Trades for $11.9M
The 85,231-square-foot bulk industrial warehouse building at 12100 Parklawn Drive in Rockville, Md has sold to an affiliate of Elman Investors, Inc. for $11,912,500, or $139.76 per square foot.
Elman Investors purchased the building from Dorsey Management Company Parklawn LLC. Transwestern’s Bob Filley represented the seller in the transaction.
12100 Parklawn Drive is 90 percent leased to the GSA through 2021. The building is located in the Twinbrook Sector Planning zone between the White Flint and Twinbrook Metrorail stations.
Phase II of the Montrose Parkway will pass just one block from the 12100 Parklawn Drive and will offer on and off ramps on Parklawn Drive.
“The majority of the property is leased by the GSA, and the property is surfacing as a critical support facility given the concentration of government agencies in the neighborhood,” said Filley.