60,000 Square Foot Office Space For Sale @ 12920 Cloverleaf Center Dr

Property tours are available by appointment only on Friday, May 12th and May 19th. Please contact the listing brokers to schedule a property tour. Colliers International has been retained as the exclusive advisor for the sale of the two-building office / flex investment opportunity of Cloverleaf Center (the “Property”). Cloverleaf Center consists of two one-story flex office and industrial buildings located at 12910 and 12920 Cloverleaf Center in Germantown, Maryland. Built in 1996, each building features 30,000 net rentable square feet of Class B flex space. The two buildings sit on 5.38 acres with a parking ratio of 3.20/1,000 sf and are located in Montgomery County. The property is 58.3% leased. The Property is located in the Germantown submarket in Montgomery County. A suburb of Washington, DC, Germantown is situated 25 miles north of the District along Maryland’s I-270 technology / biotechnology corridor. Germantown is the third most populous place in Maryland behind Baltimore and Columbia. Montgomery College has one of its three campuses in Germantown, and the submarket is home to several major employers and headquarters, including the U.S. Department of Energy, Holy Cross Health, Library Systems and Services, Xerox, and GE Aviation. The Germantown submarket contains 3,065,243 sf of single / two story flex and mid-rise space. The submarket compares quite favorably with the DC Metropolitan area markets, with a current vacancy rate of only 7.9% (compared to Northern Virginia’s 9.7% and Suburban Maryland’s 10.7%). Area demographics include 205,000 people within a five (5) mile radius and a median income of $87,000 per household. 12910 Cloverleaf Center has two tenants: Jasmine Medical Center leases 12,595 sf until 4/30/2024 and Shireen, Inc. leases 8,614 sf until 1/31/2019. TKH Security Solutions is the sole tenant of 12920 Cloverleaf Center and leases 13,758 sf until 8/31/2020. There are 25,033 square feet of vacant space in the complex; asking rents cor comparable space in the micro market are $15.00/NNN - $28.00/FS.