Rockville’s Shady Grove Medical Pavilion Adds Fourth Tenant in 2015
- Sep 17, 2015
Broe Real Estate Group, an affiliate of The Broe Group, has added another tenant at its Shady Grove Medical Pavilion in Rockville. Shady Grove Fertility has signed a lease for 50,000 square feet at the facility and will occupy the space for the next 15 years.
Chuck Feitel of HPRG represented Broe in the transaction, while Nicholas Zuppas of Gittleson Zuppas represented the new tenant. Shady Grove Fertility now joins Shady Grove Orthopedics, Adventist Healthcare and Schreiber Allergy as the fourth medical group to commit to the Rockville facility this year. Its new home is a 122,000-square-foot Class A building at 9601 Blackwell Road, right in the heart of the Shady Grove Life Sciences Center.
Broe purchased the Shady Grove Medical Pavilion in August 2014. Since then, it has leased more than 70,000 square feet of space at the facility, bringing its occupancy from 10 percent to 68 percent. The building still has 48,000 square feet of available space remaining, and Broe intends to market it exclusively to medical service providers.
“Attracting another prestigious medical provider like Shady Grove Fertility represents a major step forward in our efforts to establish Shady Grove Medical Pavilion as the premier medical office facility in Rockville. Both tenant and landlord have made a significant commitment to this property, and we look forward to providing a first-class facility and real estate services over the next several years,” Brian Cornell, vice president at Broe, said in a statement.
Photo credit: The Broe Group