Boston Properties (BXP) is set to acquire the Shady Grove Bio+Tech Campus, a seven-building, 435,000-square-foot office park in Rockville, Md., for $116.5 million, from Lantian, the company announced.
The deal is expected to close in the third quarter of this year.
The 31-acre property, located at 9600 Gudelsky Drive, is situated within the Shady Grove life sciences cluster, home to a host of companies in the biotechnology sector. It is also currently home to the Universities at Shady Grove, a biomedical and tech-focused university that is part of the University System of Maryland.
Image: PETE OTTENI. PHOTO: BY BXP
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