Properties

700 Quince Orchard Road

Rock Creek assembled 13.1 acres of land, partially improved with a Class C 170,000 square foot property at 700 Quince Orchard Road and 14 Firstfield Road. The property and associated land are in Montgomery County’s well respected I-270 life science cluster in Gaithersburg, MD, a leading biotechnology corridor in the United States. After extensive rezoning and planning work, the property was entitled for up to 175 townhomes and 400,000 square feet of office space.

Rock Creek redeveloped the existing building on a speculative basis into a state-of-the-art, Class A life science property suitable for manufacturing, lab, and office space. Prior to delivery, Novavax (Nasdaq: NVAX) leased the entirety of the newly developed building and acquired the excess 10.5 acres of ground for its future expansion needs. Rock Creek sold the Novavax headquarters building on the same day to Alexandria Real Estate Equities Inc. (NYSE: ARE) in a complex, three-party transaction.