WASHINGTON BUSINESS JOURNAL: “Growing our footprint in the Discovery District opens new opportunities,’ UMD.’s president said.
The University of Maryland recently acquired the College Park headquarters of a scientific group that last year inked a big lease in downtown D.C.
The American Center for Physics Inc. sold its 107,274-square-foot home at 1 Physics Ellipse last month for $35.5 million, according to public records and the University of Maryland. The sale comes about a year after the scientific organization leased a new meeting space in 30,461 square feet at 555 12th St. NW in D.C.
In a statement, University of Maryland President Darryll Pines said the institution acquired the 24-acre property for its proximity to transit and UMd.’s 150-acre Discovery District, a research park with a growing slate of public and private tenants including the National Oceanic and Atmospheric Administration and National Quantum Lab at Maryland.
“Growing our footprint in the Discovery District opens new opportunities for the University of Maryland to deepen its relationships with public and private partners that share our vision for building a strong, socially engaged and environmentally aware workforce,” Pines said.
The ACP will lease back part of the space, per the university’s statement. Other occupants have not yet been identified.
Constructed in the early 1990s, 1 Physics Ellipses united three related societies under one roof — American Institute of Physics, the American Physical Society and the American Association of Physics Teachers. Together they represent thousands of educators, researchers and scientists with a common love of physics. Last year, the organization said it would hold on to the site, which assures its continued connection to the academic world.
ACP Board of Directors President Beth Cunningham said the move would allow it to maintain some of its collections, including the Niels Bohr Library & Archives of the American Institute of Physics, which ultimately benefits researchers in physics, astronomy and other fields.
“This partnership allows ACP to make the best use of our resources, but we also know that the University of Maryland shares our commitment to moving the physical sciences forward by fostering discovery and collaboration,” Cunningham said.
The property acquisition was approved by the Maryland Board of Public Works on June 21. The sale closed Sept. 15. Parker Lange, Vernon Knarr and David Cornbrooks of Savills represented the American Center for Physics in the transaction.
