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Altus Realty Acquires Pair of Rockville Office Buildings for $26M – Commercial Observer

By July 18, 2022News

RESEARCH SQUARE.
PHOTO: CBREAltus Realty has acquired Research Square, two office buildings comprising 90,000 square feet in Rockville, Md., for $25.5 million.

Westat, an employee-owned research company headquartered in Rockville, was the seller of the two properties, located at 1500 and 1550 Research Boulevard.

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The Arlington, Va.-based Altus plans to turn the property into life sciences space, given that the buildings’ attributes make them amenable to such a conversion, according to CBRE, which represented the seller in the deal.

Westat decided to let go of the building as its workspace needs changed.

Image: RESEARCH SQUARE.
PHOTO: CBRE

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