Life Science Company MaxCyte Relocating HQ to Rockville, Md.
MaxCyte, a life science company specializing in cell-engineering technology, is relocating from Gaithersburg, Md., to Rockville, Md., Commercial Observer has learned.
The company signed a 13-year, 67,000-square-foot lease at 9713 Key West Avenue, a five-story, 120,000-square-foot office building, with landlord Beckham Gumbin Ventures.
The biotechnology company’s current offices, totaling 37,000 square feet, are located at 21 and 22 Firstfield Road in Gaithersburg.
Edge represented the tenant in the lease. The rent was not disclosed.
“Edge negotiated a highly-structured lease transaction that provides below-market occupancy costs for MaxCyte, while also increasing the income stream to Beckham Gumbin Ventures and its partners,” Joseph Sutton, Edge’s managing partner, said in a prepared statement.
Originally built in 2002, 9713 Key West Avenue is one of three buildings, known as the DANAC Stiles Corporate Campus, which totals approximately 300,000 square feet of former office space recently converted to Class A lab space; it also includes 300 covered parking spaces.
The building was previously occupied by a user who had left the space, but was still paying rent, allowing MaxCyte to absorb the offices over a three-year period while expanding its workforce, according to Sutton.
“While this was a long and very challenging process, we successfully relieved the former users in the building of their cost burden, the landlord increased its rental income and reduced vacancy to nearly zero, and MaxCyte secured a long-term, below-market lease to boost their growth trajectory,” he said. “This truly was a win-win transaction for one of our most valued client relationships.”
MaxCyte plans to move into its new headquarters in phases, starting in the first quarter of 2022.
Joining Sutton on the deal was Marc Balamaci, a partner in the firm. Cushman & Wakefield represented the landlord.
Just 20 miles from Washington, D.C., the property is located on eight acres at the intersection of Route 28 and Key West Avenue, nearby both Interstates 270 and 370.