PRP has sold Two Washingtonian, a 294,000-square-foot office building in Gaithersburg, MD that is 100% net leased to Leidos, for a reported $119 million. The buyer was a domestic insurance company.
Leidos is an investment-grade global science and technology company providing technology and engineering services and solutions to a variety of industries. SRS Real Estate Partners’ Andrew Fallon and Rick Fernandez brokered the sale.
“We have worked hard to build a large portfolio of the highest quality credit net lease office assets in Tier 1 markets in the United States,” said Paul C. Dougherty, PRP’s founder, president and CIO. “As we continue to drive value for our investors and partners, we will selectively sell these assets. Two Washingtonian has been a very successful investment for the firm, and we are excited for the new owners as they have acquired a great asset leased by a dynamic and growing company in Leidos.”