20 Feb Scheer Partners Announces Gaithersburg’s Premiere Professional Office-Condominium Property Secures Target Community & Educational Services, Inc. as Tenant
Gaithersburg, MD – Scheer Partners Senior Vice President Nate Crowe and Associate Kevin Rosenberg are pleased to report that a new sale has been executed in the Fairview Building at 438 N. Frederick Avenue, bringing this Class-A Gaithersburg property to 94 percent occupancy.
Target Community & Educational Services, Inc. (Target) purchased a 4,033-square-foot suite on the third floor in a recent transaction where Crowe and Rosenberg negotiated for the landlord. Other major suite owners in the building include Chawla & Chawla, CPA, LLC and Kane Construction, Inc. Only three suites remain available at the property.
Built in 1982, this 72,600-square-foot building recently received renovations including a new main lobby, common areas and restrooms all with extensive granite, new HVAC systems and a new roof, new state-of-the-art fire and life safety systems, and a complete modernization of the elevators.??The property also boasts unique shared amenities, such as executive conference rooms, a fully appointed kitchenette, a professional copy room and climate-controlled storage.
Marek Rich, a Vice President with Scheer Partners, represented Target. Says Rich, “Given the challenges of Target’s existing property, Fairview afforded them with a purchase opportunity to solidify a long-term solution for the association, while addressing their growth requirements, housing all of their staff and conferencing needs in one space, and also fulfilling their abundant parking requirements.”