31 May Gaithersburg Officials Praise Guardian for 501 N. Frederick Avenue Renovations; Scheer Partners Marketing Property to Medical Tenants
Gaithersburg, MD – Gaithersburg Mayor Sidney Katz proclaimed May 23rd “Guardian Realty Day” in the City of Gaithersburg in recognition of the company’s major renovations at 501 N. Frederick Avenue.
Joined by City Council members Cathy C. Drzyzgula, Ryan Spiegel and Jud Ashman, as well as Gaithersburg Economic Development Director Tom Lonergan, Mayor Katz officially dedicated the building, a 50,000-square-foot medical office building owned by Guardian Realty Investments, LLLP (“Guardian”), as a “Certified Gaithersburg Professional Complex.”
Mr. Katz said that while it is significant for developers and landlords to invest in new projects within the City, it is even more important to the community when companies like Guardian re-invest in existing City properties to make them more attractive to prospective tenants, demonstrating their dedication and commitment to improving the City of Gaithersburg.
At the event, Mr. Lonergan explained to the several dozen invited guests the numerous economic incentives available to medically related businesses relocating to, or expanding within, the City, including Gaithersburg’s Economic Development Opportunity Fund and its Economic Development Toolbox.
In addition to spending $1.5 million to upgrade the common areas and facade at 501 N. Frederick Avenue, Guardian has extended the building hours to 8:00 pm Monday through Friday and constructed a doctors’ lounge complete with couches and televisions. These upgrades and improvements have improved the exterior appearance of the building, provided desirable comforts and amenities for the tenants, and will help create a referral network and an atmosphere of collaboration amongst the tenants.
Guardian has engaged Scheer Partners, the leading provider of fully integrated commercial real estate services for the health science industry, to lease the remaining 20,000 square feet at 501 N. Frederick Avenue to a variety of health-care groups.
Health care is one of the fastest-growing sectors in the City and throughout the Washington, DC region. As a result, there is strong demand for medical services in the City of Gaithersburg, which is in a prime central location in Montgomery County and in close proximity to both the Shady Grove Hospital and the Holy Cross Hospital that is under construction in Germantown.