WorldShine Group Acquires Office Property In Gaithersburg, MD For $20M
700 Professional Drive Gaithersburg, Maryland 20879, USA
$20,000,000
$295/SF
Building Size
67,808 SF
Asset Type
Office
Closing
May 3, 2023
AI
The office property located at 700 Professional Drive in Gaithersburg, MD has been sold in a transaction handled by Vernon Knarr, Art Greenberg, Gary Stein, and Jon Glass from Savills. The property sits on approximately 8.9 acres and offers 67,808 square feet of space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,000,000 (Approx.)
- Square Footage: 67,808
- Price per Square Foot: $295
The buyer for this transaction is WorldShine Group. The deal was facilitated by the brokers mentioned above, representing Savills.
Players
Gaithersburg Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93