The office building at 805 King Farm Boulevard is scheduled to be auctioned on April 18, 2025. According to an auction ad from Alex Cooper Auctioneers, the property owner, King Farm 4 Sub Owner LLC, defaulted on a loan that was originally for $38.5 million, according to county land records (as reported by Maryland Newsletters).
Per the auction listing, this is a six-story building covering 240,000 square feet, with parking available for nearly 450 vehicles– 200 spaces for surface parking and 250 covered spaces. The opening bid will be $500,000.
The building is going to auction under a “power of sale” clause in the deed of trust. This legal document allowed the lender, Lawyers Title Realty Services, Inc., to force the sale after the loan defaulted. The auction will be held at the Montgomery County Circuit Court at 50 Maryland Ave. in Rockville, MD, on April 18, 2025, at 3:00 PM.