One of 60 properties within the Baltimore Washington Industrial Park, 8263 Patuxent Range Rd. is 164,700 square feet. Invesco Real Estate, was represented by Transwestern brokers Tom Gentner, Brian Watts, Mark Glagola and Michael Phipps. Gentner, Watts, Glagola and Phipps also represented National/AZON in the deal. Door to Door Storage was represented by Shawn Childs and John Wilhide of CB Richard Ellis.
In general, industrial is faring relatively well in this market considering the economy. Jessup, in particular, is benefiting from its proximity to the Port of Baltimore as well as the Washington, DC market. The larger Baltimore industry market has experienced a low vacancy rate of under 3% due in some part to the enhancements the port has made to better handle commodities. Transwestern did not return a call to GlobeSt.com in time for publication.
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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.
