The Property is located in the I-270 Biotechnology and Life Sciences Corridor, one of the country’s most prominent hubs for medical research, testing, and development. The National Institutes of Health, National Cancer Institute, and The Food and Drug Administration employ over 30,000 people along I-270, in addition to the nearby Shady Grove Life Sciences Center, National Institutes of Standards and Technology, Johns Hopkins University – Montgomery County, and The Universities at Shady Grove.
JLL is pleased to present for sale Cadence at Crown (the “Property”), a 538-unit mid-rise multifamily asset located at 113 Ellington Boulevard in Gaithersburg, Maryland. The Property is situated within Downtown Crown, a mixed-use, highly walkable town center featuring 320,000 square feet of urban-inspired retail and commercial space. Downtown Crown is home to two parks, boutiques, upscale eateries, a Harris Teeter, LA Fitness, and The Retreat – a community center featuring a lap pool, rock climbing wall, and tennis court. The development opened in 2015 as the first phase of the 182-acre Crown project. Downtown Crown, Fallsgrove Village Center and Washingtonian Center consist of two million square feet of retail within one mile of the Property. The abundant retail provides a variety of dining, shopping, and entertainment options for The Property and community.