United Therapeutics Corp. (NASDAQ: UTHR) continues to snap up properties near its Silver Spring headquarters — but has largely remained quiet about its long-term plans for the additional space.
The local drugmaker most recently bought a building at 8905 Fairview Road for $11.85 million, according to Montgomery County property records. The transaction, which closed Oct. 5, also includes a parking lot across the street.
The company confirmed the purchase in an email to the Washington Business Journal and said it has “no specific plans” for the site at this point.
The 33,930-square-foot building — steps away from UT’s 415,000-square-foot headquarters at 1040 Spring St. — has multiple tenants, including The Eye Surgery Center LLC and Seeking Employment, Equality and Community for People with Intellectual and Developmental Disabilities (SEEC).
SEEC Corp. is listed as the seller in public records. The building last sold in December 2001 for $2.85 million.
The biotech has been gobbling up sites in Silver Spring, and other parts of the region, for years. In October 2021, it acquired a 141,960-square-foot building at 8728 Colesville Road for $50.9 million, including taxes and closing costs, according to county property records. That building sits three-tenths of a mile southeast of the Fairview Road building and is earmarked for “future expansion,” which is all that UT said in November 2021 filings with the Securities and Exchange Commission.
Click here to read more via the WBJ (subscription required)