{"id":1004367893,"date":"2019-11-13T07:34:53","date_gmt":"2019-11-13T15:34:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004367893"},"modified":"2019-11-20T02:03:24","modified_gmt":"2019-11-20T10:03:24","slug":"frederick-health-acquires-387-ksf-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/","title":{"rendered":"Frederick Health Acquires 387 KSF Office Building"},"content":{"rendered":"
\"\"<\/a>

1 State Farm Drive. Image courtesy of Fitzgerald Realty Group.<\/em><\/p><\/div>\n

Frederick Health acquired a 387,000-square-foot office building in Frederick, Md., for $18 million. At the beginning of 2018, the site had an assessed value of $38 million. The seller of the former State Farm location was Lone Star Funds. Fitzgerald Realty Group assisted the buyer in the acquisition of the property, which will serve as a new center for the company’s operations. <\/p>\n

The campus will be renamed Frederick Health Village and it will house the hospital\u2019s home health-care services and hospice, as well as some administrative offices. Frederick Health will keep its current office in downtown Frederick and will develop its new location in the coming years. <\/p>\n

Located at 1 State Farm Drive, the property was built in 1995 and sits on 93 acres of land. In addition to the office space, it features a 20,000-square-foot warehouse, a 9,300-square-foot data center and 1,600 parking spaces.<\/p>\n

Lone Star Funds had acquired the asset in 2013 in a portfolio sale-leaseback transaction from State Farm. The insurance company sold 23 of its operations centers, totaling 6.2 million square feet in 16 states, for $720 million, according to Yardi Matrix data.<\/p>\n","protected":false},"excerpt":{"rendered":"

The health-care provider was represented by Fitzgerald Realty Group in the purchase of the property that is located on a 93-acre site, formerly occupied by State Farm.<\/p>\n","protected":false},"author":867,"featured_media":1004367896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21754,11,21742,10,21747],"tags":[47810,35235,36577],"class_list":["post-1004367893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-medical-office","category-midatlantic","category-latest","category-northeast","category-office","tag-fitzgerald-realty-group","tag-lone-star-funds","tag-state-farm-life-insurance"],"acf":[],"yoast_head":"\nFrederick Health Acquires 387 KSF Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frederick Health Acquires 387 KSF Office Building\" \/>\n<meta property=\"og:description\" content=\"The health-care provider was represented by Fitzgerald Realty Group in the purchase of the property that is located on a 93-acre site, formerly occupied by State Farm.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-13T15:34:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-20T10:03:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/State-Farm-Aerial.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/\",\"name\":\"Frederick Health Acquires 387 KSF Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/State-Farm-Aerial.jpg\",\"datePublished\":\"2019-11-13T15:34:53+00:00\",\"dateModified\":\"2019-11-20T10:03:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frederick-health-acquires-387-ksf-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/State-Farm-Aerial.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/State-Farm-Aerial.jpg\",\"width\":800,\"height\":600,\"caption\":\"1 State Farm Drive. 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