Industrial & Logistics

2355 Lewis Avenue

Rockville, MD, US

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2355 Lewis Avenue_Property for Sale

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Asset description

Jones Lang LaSalle, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this opportunity to purchase 2355 Lewis Avenue (the “Property”), a two story, 36,040 SF Industrial asset in the heart of Rockville, MD. The building is ideal for last-mile distribution or life science repositioning.

Currently owner-occupied by a firm that will relocate, the Property is wellpositioned in the Twinbrook micro-market, boasting immediate access to the Twinbrook Metro Station (Red Line, 3-Minute Walk from the Property) as well as Rockville Pike (Rt. 355) I-270 and I-495. The property is currently zoned IL, providing in-place flexibility with the right to utilize the property as a distribution center or life-science facility. This is a rare opportunity to purchase an asset of this profile in a market where dramatic industrial rental rate increases and a vibrant life-science market have driven high scarcity.

Notably, Suburban Maryland has become one of the country’s most prominent hubs for medical research, testing, and development. The National Institutes of Health, National Cancer Institute, and The Food and Drug Administration employ over 30,000 people along I-270, in addition to the nearby Shady Grove Life Sciences Center, National Institutes of Standards and Technology, Johns Hopkins University – Montgomery County, and The Universities at Shady Grove. Bolstered by the CARES Act economic stimulus bill, Suburban Maryland continues to grow extensively in terms of employment and funding. Maryland is the largest recipient of government contact awards related to COVID-19 and is on pace to set record highs for venture capital and grant funding by yearend 2021.

The I-270 corridor boasts a robust amenity base which cultivates a “liveworkplay” environment. Less than a 10-minute drive from the property is Pike & Rose, an 80,000 SF mixed-use development featuring best-in-class shopping, dining, entertainment facilities and residential units. Moreover, Montgomery County is home to one of the strongest demographics in the nation, boasting an average household income of $108,000, one of the top school districts in the county and the #1 ranking STEM employment concentration.

2355 Lewis Avenue is a compelling investment opportunity that offers an invaluable, on-metro location in one of the strongest performing industrial and life-science markets in the county. Scarcity of available product, coupled with growing industrial rents and a booming life science market presents potential investors multiple business opportunities, featuring tremendous demand in one of Metropolitan DC’s tightest submarkets.

Attributes

Building area gross
36,040 sf
Year built
1967

Investment highlights

36,040 SF Existing Industrial Asset/ Last Mile Distribution Facility Diminishing Supply of Industrial – the Scarcity Factor


Dominant I-270 Biotechnology and Life Sciences Corridor


3-Minute Walk to Twinbrook Metro Station (Red Line)


By-Right Zoning Allows for Last- Mile Distribution or Life Science Conversion


Outstanding, Nation Leading Montgomery County Demographics

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Last updated
Sep 30, 2021