Ground-up development of life science building underway in Gaithersburg, MD
Monument Realty, in partnership with Nuveen will be developing a state-of-the-art life science building located just off I-270 in Gaithersburg, MD, on a 33-acre parcel of land owned by an affiliate of Monument Realty. The new building is being specifically designed to meet the advanced requirements of tenants in the fast-growing life sciences sector. The project located at 735 Watkins Mill Road will be named Monument Innovation Center and will be the latest addition to the life science cluster in Maryland’s I-270 Life Science Corridor.
The ground-up development will be a modern 4-story life science building totaling 135,000 square feet. It is ideally proximate to leading federal and private research institutions and is adjacent to the I-270/Watkins Mill Road interchange. It will feature slab to slab heights of 17 feet on the first floor and 15 feet slab to slab heights on floors 2 through 4 as well as state-of-the-art mechanical and ventilation systems. Additionally, the building will provide enhanced electrical capacity and increased loading capacity on the tenant floors. Monument Realty will furthermore develop this project with sustainability at its forefront, including LEED® certification. Monument has obtained all necessary zoning approvals and is moving swiftly through the site plan and building permit phases. Groundbreaking is scheduled for Q2 2022.
“Monument Innovation Center adds much needed, purposefully designed and strategically located space to one of the premier life science markets in the country,” said Michael Darby, Principal of Monument Realty. “We are excited to be building a state-of-the-art facility that will meet the unique mechanical and operational design specifications, critical needs and trending demands of life science organizations today. Our business plan in the life science sector is to continue to develop products similar to this as long as the demand is there. The sector’s growth currently supports additional buildings, and we’ve put together an experienced team to pursue additional life science development opportunities going forward.”
To ensure that Monument Innovation Center is designed to meet the specific requirements of future tenants, Monument has teamed up with local architect, DNC Architects, who is known as a design leader in the life sciences sector.
About Monument Realty
Monument Realty, an award-winning, full-service real estate firm and market leader in the Washington, D.C. region since 1998, is defined by its innovation and unique approach to embracing challenges to create opportunities for clients and investors. Monument Realty’s development portfolio includes more than 8 million square feet of Class A office space, 400,000 square feet of retail, 8,000 residential units and a number of hotel properties valued at nearly $8 billion. For more information, visit monumentrealty.com.
