Gaithersburg economic development committee to discuss future of Leidos/IBM property

The future of the Leidos property (formerly IBM) at 700 N. Frederick Avenue will be discussed at the next meeting of the Gaithersburg Economic Development and Business Committee this Friday, May 17, 2019 at 7:45 AM in the Gallery at City Hall. In contrast to Montgomery County's reckless efforts to turn office parks into residential housing, the city is examining a proposal to keep the property as commercial and office space.

In a proposal received earlier this year, the property owner would construct two new "flex buildings" that will total about 500,000 SF, with 40x40 column spacing. These structures, as it stands now, would be built on-spec (no identified tenants yet). Potential uses for the buildings are thought to include biotech manufacturing, "last mile logistics," or other warehouse and manufacturing uses. A small area at the property's northeast corner will be converted for retail pad sites.

Leidos is expected to vacate the property in mid-2020. The new buildings, if approved on-schedule, would deliver a year later in 2021.