A partnership between GlenLine Investments and Singerman Real Estate has acquired 5640 Fishers Lane and 12441 Parklawn Drive, two lab buildings totaling 74,500 square feet in Rockville, Md.
It is the first of a programmatic joint venture between the firms focusing on life science opportunities in the suburban Maryland market. GlenLine and Singerman intend to implement a significant capital improvement plan to reposition the buildings into class A lab space, with an anticipated delivery starting in second quarter 2021.
5640 Fishers Lane and 12441 Parklawn Drive are positioned at the epicenter of the United States’ response to the COVID-19 pandemic, immediately adjacent to the National Institute of Allergies and Infectious Disease headquarters and located within a cluster of public- and private-sector life science and pharmaceutical institutions. The project has tremendous vehicular and transit connectivity to the greater Washington, D.C., metro area via Interstate 270
