BALTIMORE-Weeks Robinson Properties, an Atlanta-based firm that has been pushing into the Mid-Atlantic’s industrial market, scored a coup of a lease with Restoration Hardware. The retailer has inked a 1.2-million-square foot, 15-year lease at Trade Center 95 in Cecil County, near Baltimore. The facility will serve as Restoration Hardware’s east coast furniture distribution center.
This is one of the largest industrial leases signed in 2011 in the US, noted Forrest Robinson, CEO of Weeks Robinson Properties, in a prepared statement. “It is an affirmation of our decision to invest in the Baltimore/Washington markets--one of the stronger industrial markets in the country,” he said.
Besides the existing 600,000-square-foot building, an additional 600,000 square feet will be delivered mid-2012, which was an important factor for Restoration Hardware, Robinson added. Restoration Hardware plans to move into the existing building in January 2012 while Weeks Robinson works on the additional facilities, which will serve as a logistics center. These buildings will feature 32 feet of clear height in the warehouse and large truck areas and trailer storage. These are scheduled to deliver in fall of 2012.
Weeks Robinson acquired Trade Center 95 in August of this year. It paid $19.1 million for the facility, purchasing it from Quality Properties Asset Management Co.
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