Business Services Industry
Vacant office/lab building in Maryland
Real Estate Alert, April 28, 2004
Alexandria Real Estate Equities will pay about $26.4 million, or $300/sf, for the 88,000-sf Novartis Building, an office/lab property recently vacated by Novartis. The company constructed the property in 1999 for $25 million. Alexandria, a REIT based in Pasadena, Calif., specializes in such properties. Advantis is handling the sale.
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