Montgomery Executive Center_Property for Sale
Montgomery Executive Center_Property for Sale
6 Montgomery Village Ave, Gaithersburg, MD, 20879, US

Montgomery Executive Center

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is pleased to offer for sale Montgomery Executive Center (the “Property”), a six-story, 120,038 RSF newly renovated boutique office and medical office building in Gaithersburg, MD. On the heels of a highly successful renovation in 2019, Montgomery Executive Center has experienced over 39,000 SF of leasing activity in the past 15 months, addressing a third of the overall RBA, and is now 69% leased to 29 tenants with 3.5 years of weighted average remaining lease term. Over $2 MM of capital spend since 2019 has made the Property the highest-quality and most amenitized building in the Gaithersburg submarket.


At the intersection of major local thoroughfare I-270 and Montgomery Village Ave, Montgomery Executive Center provides outstanding accessibility to downtown Washington, DC within 30 minutes and to the broader DC metro region. Home to the third largest bioscience hub in the nation and one of the lowest unemployment rates in the DC Metro region of 1.9% (as of October 2023), Montgomery County boasts one of the highest-educated labor pools in the nation. Federal presence in the county further generates billions of dollars in grants and research, complementing its robust private sector which includes the headquarters of Marriott International, SAIC, BAE Systems, Lockheed Martin, and GEICO.


With its top-of-the-submarket amenities, diverse tenancy, and transit-oriented location, Montgomery Executive Center offers investors a market-leading asset in a thriving region at a significant discount to replacement cost.

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Investment highlights

  • 120,038 RSF Recently Renovated Boutique Office Building in Gaithersburg, MD


  • Outstanding Leasing Velocity: Over 39,000 SF (33% of RBA) of Recent Leasing Activity


  • $2 MM+ of Capital Spend Makes Montgomery Executive Center the Most Amenitized Building in the Gaithersburg Submarket


  • 69% Leased to 29 Tenants with 3.5 Years of WALT: Durable and Diverse Cash Flow


  • Strong Employment and Population Base: Montgomery County Boasts Nation-Leading Demographics in STEM Employment and Household Income


  • The $1.2 Billion, 100-acre Lakeforest Mall Redevelopment Across the Street Will Transform the Micromarket into a Veritable Live-Work-Play Environment

Attributes

Building area gross
11,152 sm
Year built
1983
Year renovated
2019
Occupancy
69%
WAULT
3.5 years
Number of floors
6 floors
Parking spaces
440

Contact brokers

Montgomery Executive Center (0 Properties)

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Last updated
Apr 9, 2024