Largest Mid-Atlantic Gastroenterology Practice Takes 21K SF in Silver Spring
Capital Digestive Care, the largest, private gastroenterology practice in the mid-Atlantic, has signed a 21,000-square-foot lease at 11921 Bournefield Way, part of the 360,000-square-foot WesTech Business Park in Silver Spring, Md.
Edge Commercial Real Estate represented the landlord, DSC Partners, in the deal.
“Securing a high-profile and creditworthy company such as this adds another stable organization to the tenant mix, and highlights the attractiveness and viability of this asset,” Robert Pugh, a partner in advisory services for Edge, told Commercial Observer. “The office and medical office market have become increasingly competitive in Montgomery County, and winning real estate searches elevates this building in the minds of other companies as well as the commercial real estate brokerage community.”
The project is near several major highways, including the Intercounty Connector (Maryland Route 200), Interstate 95 and Interstate 495 (Capital Beltway) as well as Adventist HealthCare White Oak Medical Center.
WesTech Business Park comprises nine single-story medical/office buildings.
“Interest in medical office buildings continues to increase, especially single-story assets that offer drive-up convenience for patients and their families,” Pugh said. “This high-volume practice has an extremely high patient load and was in need of additional laboratory resources to provide timely specimen analysis. It was extremely important to secure a new lab space with immediate accessibility to major interstates to reduce travel times and assure efficiency between the offices.”
The tenant will be taking its new space by the end of the year. Approximately 16,000 square feet of space remains available for lease, and the building is approximately 65 percent leased.
Joining Pugh on the deal was Kenneth Fellows, a partner with Edge’s advisory services, while Adam Schindler, executive vice president with Colliers International, represented the tenant in the transaction.