Located in the Norfolk Southern Industrial Park, 7540 Mason King Ct. is one of two buildings that total 151,320 square feet of warehouse and distribution space. There is still an additional 75,000 square feet vacant in the space. The asking rate is $6.95 NNN, Harrell tells GlobeSt.com.
Like most submarkets, Manassas--normally a robust industrial enclave--has been impacted by the economy and demand is sluggish right now, Harrell says. "In general, there is not a lot of deal flow and owners are getting more aggressive rate-wise, doing deals they might not have18 months ago."
SMS, a direct mail company, is expanding because it is bringing its mailing and printing operations in-house. Kellogg occupied the space SMS will be leasing, using it for distribution, Harrell says. Kellogg left the building last fall when it moved its operations to West Virginia.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
