Monument Realty announced today the groundbreaking of Monument Innovation Center, a new ground-up, state-of-the-art life science building located off I-270 in Gaithersburg, MD.
The 135,000-square-foot, 4-story life science development will be in the center of Maryland’s I-270 Life Science Corridor. This project will feature modern interior and exterior finishes and is purposefully designed to meet the standard and requirements for life science facilities, with enhanced electrical capacity and increased loading capacity on the tenant floors, and state-of-the-art mechanical and ventilation systems. Upon completion, Monument Innovation Center will be a LEED-GOLD Certified building, keeping efficiency and sustainability at its forefront. The property will also offer tenants branding opportunities on its façade.
Monument Innovation Center is located at 735 Watkins Mill Road, in a prime location, directly off I-270 in Gaithersburg, MD, and proximate to leading private and publicly traded life science companies. Maryland is home to over 54,000 life sciences workers.
“We are thrilled to be joining Maryland’s diverse research community, one of the nation’s strongest life sciences markets,” said Michael Darby, Principal of Monument Realty. “Monument Innovation Center offers space that will meet the critical needs and trending demands of life science organizations today.”
“We are proud to collaborate with the City of Gaithersburg in supporting the region’s life science industry by delivering a new purpose-built lab building just off I-270’s Exit 12 at the Watkins Mill interchange,” said Rishi Suri, Regional Head of Transactions of Nuveen. “We are excited to grow our national life science portfolio, totaling over 5 million square feet, into Maryland, a market we have long-term conviction in with its unique community of innovative companies, world-class research institutions, and leading regulatory agencies working together to address tomorrow’s challenges.”
Last Thursday, Monument Realty and Nuveen Real Estate executives gathered ceremonially at the project site to celebrate the start of construction. Monument Innovation Center is slated to deliver in mid-2023.
The ground-up project is designed by a local architect firm, DNC Architects, known as a design leader in the life sciences sector, and is constructed by Davis Construction.
The leasing of Monument Innovation Center is led by Doug Olson from Monument Realty. For more information, please visit monumentinnovationcenter.com.
About Monument Realty
Monument Realty, an award-winning, full-service real estate firm and market leader in the Washington, D.C. region since 1998, is defined by its innovation and unique approach to embracing challenges to create opportunities for clients and investors. Monument Realty’s development portfolio includes more than 8 million square feet of Class A office space, 400,000 square feet of retail, 8,000 residential units and a number of hotel properties valued at nearly $8 billion. For more information, visit monumentrealty.com.