idX is consolidating operations in two separate buildings in Odenton with this move. Built in 1971, this industrial park originally housed GE's appliance division. Most recently Sears occupied the entire building before it relocated last year.
Industrial space in the Baltimore-Washington Corridor is performing as well as can be expected in a downturn, according to Delta Associates' figures. Last year net absorption totaled just below the long-term average--specifically, the Corridor absorbed 4.4 million square feet, compared to 6.6 million square feet in 2007.
A new emerging trend, though – and illustrated by this lease -- is that Baltimore appears to be matching, if not exceeding absorption in the DC market. According to Delta Associates' figures, Baltimore absorbed 3.4 million square feet of industrial and flex space in 2008. Washington, by contrast, absorbed roughly one million square feet. Usually the split is 50-50.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
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.
