HERNDON, VA-Linden Resources has renewed an industrial lease totaling 50,664 square feet  here. The company occupies part of one facility in the nine-asset park located on Redskin Drive. The building encompasses two blocks and totals 146,988 square feet. It has a bay of 7,920 feet available. OTR is the landlord, which was represented by Cushman & Wakefield’s Jon Lawrence and Michael Stuart. Sean Weidlein of CBRE repped the tenant.

Overall, the park is about 90% occupied and its asking rates range from $7.25 to $9 per square foot, triple net. The tenant renewed early because it wanted to do some work and needed the certainty of having a new lease in place, Lawrence tells GlobeSt.com. It was a welcome move by the landlord, given the still-soft Route 28 market.

“Development has been slow here, but so has leasing activity,” Lawrence adds. “I would call it a sideways rate of activity now.”

An expected slowdown in industrial activity is another reason for the landlord to be breathing a sigh of relief that it has locked in one tenant. A new report by Cassidy Turley on industrial trends for Q2, points to that development, despite industrial's steady performance during the recession.

“In all probability, the industrial sector will ultimately succumb to the sharp slowdown in the economy, both domestic and abroad,” it said. Cassidy Turley noted that the manufacturing sector, which correlates nearly perfectly with the warehouse sector, clearly showed signs of deceleration in the latter part of the second quarter, with the ISM manufacturing index falling to an “alarming” 49.7, down from 53.5 in May.