BALTIMORE-Two tenants have taken space in an industrial building here, located at 4 Center Dr., owned by a local LLC. The Department of Health and Human Services leased 76,800 square feet and Herr’s, a Pennsylvania-based snack foods manufacturer, leased an additional 57,600 square feet to expand their existing 96,000-square-foot space. Herr’s now occupies a total of 153,600 square feet in the building, which is now 66% occupied with 115,200 square feet remaining. Ned Brady and Matthew Laraway, senior directors with Cushman & Wakefield’s Baltimore office, represented the landlord Northeast Commerce Center, LLC and Herr’s in these transactions. The GSA was self-represented.
These deals are typical of the activity Baltimore’s industry market is seeing in Q1, Brady tells GlobeSt.com. “The big users are the food guys. They are driving a lot of the activity.” Retailers are as well, he says, pointing to Kohl’s recent purchase of the 600,000-square-foot 1701 Trimble Rd., for $20.5 million from ProLogis.
Another significant milestone was the trade of 1900 Clark Rd., a 613,000-square-foot distribution center in the Havre de Grace submarket, which sold for $26.4 million--a 35% increase from the last time it traded 18 months ago in September 2009.
The 345,600-square-foot building is situated on 36.74 acres and features 28-foot ceilings and a 160-foot truck court. It is located near I-95 in the Cecil County Enterprise Zone with M-1 zoning.
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