United Therapeutics Buys Fairview Road Building for $11.85 Million

United Therapeutics (UT) recently purchased a building at 8905 Fairview Road for $11.85 million, according to the Washington Business Journal via Montgomery County property records. The transaction, which closed earlier this month on Oct. 5, also includes a parking lot across the street. Seeking Employment, Equality and Community for People with Intellectual and Developmental Disabilities (SEEC) previously owned the building, purchasing it in 2001 for $2.85 Million. Prior to the sale, this past spring, SEEC signed a lease that will take it just a few blocks away to 23,000SF building at 1300 Spring Street. The company confirmed the purchase in an email to the Washington Business Journal and said it has “no specific plans” for the site at this point.

The 33,930 SF building is very close to United Therapeutics’ 415,000 SF headquarters, which is located at 1040 Spring St. The Eye Surgery Center LLC is a current tenant in the building. UT has also recently made other purchases in the area, including 8808 Cameron Street ($2.6 Million) and the former dual hotel building at 8728 Colesville Road ($50.9 Million). Per its SEC filings, UT reported $928.8 million in revenue for first half of this year ($466.9 million in the second quarter) and $355.9 million in net income in the first half of 2022, an increase from the $200.9 million net income in the first half of 2021.

Feature photo courtesy of Google Maps.

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