Montpelier Research Park in Laurel, MD Sells for $18.85M
Exeter Property Group has purchased The Montpelier Research Park at 7701-7707 Montpelier Road in Laurel, MD for $18.85 million.
The Park comprises four office/flex buildings, totaling 158,800 square feet, and is adjacent to the Johns Hopkins University Applied Physics Laboratory.
Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Los Angeles-based Fort Properties.
“The sale of this 70%-leased, value-add portfolio with near term lease expirations is a testament to the stability and continued strength of the Baltimore Washington Corridor,” commented Jonathan M. Carpenter, Senior Vice President and Principal at Cassidy Turley.