September 16, 2022

Monument Realty Breaks Ground on a New Life Science Lab + Office Building

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.

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December 16, 2021

Monument readying new bioscience development in Gaithersburg

A new life sciences building will be the latest addition to the area along Watkins Mill Road in Gaithersburg, just off Interstate 270. D.C.'s Monument Realty and Chicago's Nuveen LLC will jointly develop

July 26, 2021

DC’s Liberty Building Adds Global Medical Services Company ProPharma

ProPharma Group Holdings has signed a 10,000-square-foot lease at The Liberty Building, a 176,350-square-foot office building in Washington, D.C., with Monument Realty and Ares Management.

December 3, 2020

Inova Health System Buys More Land from Monument Realty

Inova Health System has now bought roughly 13 acres on Lewin Drive from D.C.'s Monument Realty and its partner, New York-based Atlas Capital Group.

December 3, 2020

Monument Closes $67M Construction Loan

Monument Realty has closed a $67 million construction loan that clears the way for the D.C. developer and its partners to start work on a 14-story multifamily building in NoMa.

August 13, 2020

JUST SOLD – 1115 H Street NE, Washington DC 20002

Monument Realty just sold an urban retail condominium addressed 1115 H Street NE, Washington, D.C.

May 8, 2020

DC Developers Breaking Ground On New Projects

In the D.C. area, not only have ongoing projects been allowed to continue, developers are breaking ground on several new projects.

May 8, 2020

Avidian Nearing Completion in Navy Yard Neighborhood

Stretching from South Capitol Street to Van Street SE, the red and gray brick building is nearing completion, with move-ins expected to begin in a couple of months.

April 3, 2020

Monument Sells Adams Morgan Retail Property

The ground-floor retail space in an Adams Morgan building has just traded hands.  Monument Realty sold the 9,160 SF of retail space at 1700 Columbia Road NW to an Ashburn-based private investor for $7.9M.

February 27, 2020

D.C.-Area Condo Sales Up 12% Last Year

The Avidian, a 171-unit condo project from Monument Realty, sits just north of Nationals Park at 1211 Van St. SE. The building began sales last year, is expected to deliver in April and has now sold well over 100 units.

January 15, 2020

Residential Development Near Franconia Metro Approved

Plans for a development near the Franconia-Springfield Metro now include a 300-unit multifamily building.

January 15, 2020

Residential Moves into Liberty View Development

Monument Realty has the go-ahead to build a 300-unit residential building at its Liberty View development near the Franconia-Springfield Metro station.

July 22, 2019

NoMa Project Chosen by City Proposes Nearly 600 Apartments, Retail, and a Park

More than 575 rental units—over half of which would be priced at below-market levels—are planned for a one-acre lot in NoMa as part of a development project recently picked by D.C.

July 2, 2019

Monument Realty to Develop Nearly 900 Apartments on Adjacent NoMa Parcels

Mayor Muriel Bowser announced Monday that her administration selected the team of Monument, Morningstar Community Development, The May Firm and Community Housing Partners over several other competitors to develop the 1-acre lot at 2 Patterson St. NE.

July 1, 2019

Monument Realty-Led Development Team Selected to Deliver 577 Apartments to North Capitol Street Site

On Monday, Mayor Bowser announced the city awarded development rights for 2 Patterson Street NE to a team comprised of Monument Realty, Morningstar Community Development, The May Firm and Community Housing Partners.

July 1, 2019

Monument Realty Wins Rights to Build 577-Unit Project in NoMa

Monument Realty now has control of two adjacent NoMa sites that could yield nearly 900 residential units. Mayor Muriel Bowser announced Monday that Monument Realty's team was selected out of six finalists to develop on the 1-acre site the city owns at 2 Patterson St. NE.

April 30, 2019

Monument Realty Sticks With Bloom Montgomery Village, With a New Partner

D.C.-based Monument has partnered with Connecticut private equity firm Greenfield Partners to purchase the 147-acre former Montgomery Village Golf Club from a joint venture of Monument and Houston-based Lionstone Investments.

March 5, 2019

With Wave of Large DC Condo Projects, Developers Hope to Pull Demand from Apartment Buildings

The D.C. condo market has experienced years of undersupply, with developers favoring the booming rental segment. But large projects under development are preparing to deliver a host of new for-sale options for D.C. buyers.

February 10, 2019

Multifamily Owners Jump in the Short-Term Rental Game

WhyHotel operates temporary hotels within multifamily buildings during a lease-up phase of a new apartment building. Harold Wu's weeklong experience at 225 N Calvert ended up being the ultimate try-before-you-buy.

February 7, 2019

Monument Realty Begins Construction on Riverside Square Shopping Center

The Washington, DC-based real estate firm also announced its first tenants at the multi-building property including a deal with restaurant Texas Roadhouse and Sheetz, a convenience store and gasoline station, and a 20,000-square-foot health club.

February 6, 2019

Monument Realty to Build New Shopping Center in Ashburn

Monument Realty announced Wednesday it has secured financing, signed multiple leases and begun construction of a 90K SF shopping center fronting Route 7 in Ashburn.

February 6, 2019

Sheetz, Texas Roadhouse Among Tenants for Monument’s First Ground-Up Retail Project

Monument Realty is branching further out into the suburbs — and into ground-up retail development — with its new Riverside Square project in Ashburn.

December 12, 2018

Monument Realty Plans 310-Unit NoMa Development

Monument Realty is competing with several developers to build on a D.C.-owned NoMa site, but it is already moving forward with a project next door. The developer Friday closed on the purchase of 40 Patterson St. NE, buying it in an all-cash transaction for $12.5M from an affiliate of the Choi Cos.

December 12, 2018

Monument Buys NoMa Lot as it Vies for the Bigger D.C.-Owned Property Next Door

Monument Realty is making its first push into NoMa, buying a 25,000-square-foot lot on Patterson Street NE while continuing its pursuit of a larger, D.C.-owned parcel next door.

October 25, 2018

New High-Rise Apartments and Shopping Planned for 900 Fleet Street

If you’ve traveled to Harbor East within the last year, you may have noticed lots of ongoing construction—now add to the list the erection of a new luxury apartment building at 900 Fleet Street.

October 4, 2018

Apartment Building Proposed for Little Italy, Fueling Residential Building Trend

The Washington, D.C.-based developer of a downtown apartment building has proposed another building on the border of Little Italy, fueling the residential building boom around Baltimore’s harbor.

June 19, 2018

Take a Glimpse Inside the Modern 225 North Calvert Street Apartments

It has a modern lobby, upscale apartment units and a club lounge on the top floor with a pool and sweeping views of downtown and City Hall's distinctive dome.

June 18, 2018

Exclusive: Monument Realty Plans $100M Apartment Tower in Harbor East

A new 350-unit apartment tower is set to break ground the 900 block of Fleet Street early next year and will replace a Verizon industrial complex, developer Monument Realty officials said Monday.

June 7, 2018

Pop-Up Hotel to Operate Out of Upscale Baltimore Apartment Building

The developer of a new apartment building in downtown Baltimore has partnered with a hotel start-up to offer some of the units as hotel rooms as it seeks tenants in the city’s competitive apartment market.

June 7, 2018

WhyHotel — A Pop-Up Hotel — to Operate Out of New 225 North Calvert Street Apartments

A unique "pop-up" hotel is going to fill empty apartments at 225 N. Calvert St. as the redevelopment of the former Bank of America office space begins to lease up.

June 1, 2018

Monument Realty’s Retail Arm Buys into P Street Near Whole Foods

Monument Retail has bought the building next to the P Street NW Whole Foods Market and will install national retailer Smoothie King there as part of its ongoing push to acquire retail assets.

February 23, 2018

Developer Q&A: Monument Realty Founder Michael Darby

Monument Realty is developing The Shaw, a 69-unit condo project with 7,400 SF of retail at 608 T St. NW. Bisnow caught up with Monument Realty founder Michael Darby to hear how the project is coming along and see what else the developer has in store for the neighborhood.