"We entrusted the principal's at EDGE to develop the real estate strategy for our Maryland portfolio. The results...a decade long relationship, over 650,000 sq. ft. of leasing, nearly $500 million in transactions, the largest lease transaction in Maryland, and two Sales Transaction of the Year Awards. The results speak for themselves."

- Weldon Humphries, (Former) Senior Vice President, Choice Hotels International

Tech Park 270 – Gaithersburg, Maryland
Tech Park 270 is located on Clopper Road in Gaithersburg, a central location for life science companies along the I-270 High Tech Corridor in Montgomery County, Maryland. At the time of the acquisition, this asset was the only building situated in a small submarket of Gaithersburg that had not yet been converted to lab space. The acquisition strategy was to convert one wing of the building, 24,000 sf (12.5%) then vacant, to small suite wet laboratory space.

Lab space in the market exacts twice the rent as typical office/flex space and after conversion cost, yields a net rent gain of a 162%. Respectively, for every square foot of space within the building converted from office to lab space creates a net resale gain of 45%. The balance of the building contained rents at rates 50% below the market, thus offering significant upside rent potential.

Value-add Acquisition
Acquired through 20-year relationship with seller – not marketed
184,000-sq. ft. office/flex building purchased in June 2002
for $19,525,000
Repositioned a portion of the building to laboratory space and renewed anchor tenant, Fusion UV Systems (78,000 sq. ft.), for 10 years at a market rate
Sold to Alexandria Real Estate Equities in December 2004 for $33,000,000 31% IRR to equity investor
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