TSC Realty Services represented both COMSTAR Federal Credit Union and Prudential Real Estate Investors in the sale of 22601 Gateway Center Drive, a 21,800 square-foot office building in Clarksburg, Maryland. Located on the Route 121 interchange of I-270, the Property is positioned adjacent to Gateway 270 Business Center, a 300,000 square-foot office/R&D campus owned by Prudential. COMSTAR purchased the Property in 1994 which was originally developed as a built-to-suit for Metropolitan Insurance. In 2010, however, with its rapid growth trajectory, the company sought to dispose of the Property and identify new headquarters.
TSC successfully sold 22601 Gateway Center drive for $3,597,000 or $165 per square foot to Prudential as a means of incorporating the property into its neighboring Gateway 270 Business Center. Advised by TSC, this strategic purchase allowed Prudential to fulfill the needs of its largest Gateway 270 tenant, Thales Communications, which required separate conference/executive center space which was not currently available within the business park.
Advising both buyer and seller, TSC assisted COMSTAR and Prudential to maximize their long-term interests. Upon the sale of the Property, TSC was able to identify and relocate COMSTAR FCU to its new headquarters building, more strategically located for its evolving business plan and customer base in Frederick, Maryland. At the same time, through this acquisition, Prudential gained control of a key, contiguous parcel while meeting the needs of its largest tenant.