Project 07 / Sold 2021 · WBJ nominee
Shady Grove Bio+Tech Campus
A 31-acre, ~435,000 GSF life-sciences campus in Rockville, Maryland. Sold to Boston Properties for $116.5M on August 2, 2021. Renamed by BXP as the Shady Grove Innovation District.
- Address
- Shady Grove, Rockville, MD
- Location
- Rockville, Montgomery County, Maryland
- Datum
- 39.116°N, 77.176°W
- Acreage
- 31 ac
- Floor area
- 435K GSF
- Cost basis
- $116.5M sale to Boston Properties, August 2, 2021
- Years
- 2017–2021
- Firm
- Lantian Development
- Role
- CEO
- Outcome
- Sold to Boston Properties for $116.5M; renamed Shady Grove Innovation District.
- Award
- Nominee — 2021 WBJ Real Estate Deal of the Year
A 31-acre life-sciences campus across seven buildings, roughly 435,000 GSF, in the Shady Grove cluster. Sold to Boston Properties for $116.5M on August 2, 2021. BXP rebranded the assemblage as the Shady Grove Innovation District. Nominated for the 2021 WBJ Real Estate Deal of the Year.
References
- Lantian Development completes sale of Shady Grove Bio+Tech Campus to Boston Properties · CBRE
- Boston Properties to acquire Maryland biotech campus for ~$117M · Commercial Observer, July 2021
- Boston Properties acquires 435K SF campus in Shady Grove life-sciences cluster · The Daily Record
- BXP unveils plans for Shady Grove Innovation District in Rockville · Rockville REDI