GLEN BURNIE, MD-Leasing in the BWI Corridor has clearly slowed, with some observers dating the slowdown as early as April. When it started is not as important, however, as the expected date when activity will pick up—that is, after the presidential election. Still, even in the seven weeks run up to the election, deals are getting done in both the leasing and investment sales categories, as the following two examples show.

One is the five-year renewal of 82,901 square feet here by Mohawk Industries. The other is the trade—said to hover around the low $20-million mark by industry sources—of the 444,765-square-foot Oakland Mills Distribution Center in Columbia, MD.

The 82,901-square-foot renewal, at 1910 Park 100 Dr., was a coup for the landlord for obvious reasons, Lincoln Property Co. broker Merrill Turnbull tells GlobeSt.com. “The industrial market is a little bit slow now especially because there isn't an abundance of large tenants in the market. So it's great to keep this company in the building.

Turnbull, along with colleague Paul Danko represented Invesco, the building’s owner, in the transaction. Toby Mink and William Pellington of CBRE represented Mohawk. There is a remaining 104,000 square feet to lease in the building. Asking rates are $5.50 per square foot, triple net.

This deal closed, he adds, because it is one of the few buildings in the BWI Corridor that has that amount of space available. That said, Turnbull adds, “We're seeing some good activity in the 25,000-to-35,000-square-foot range.” And he expects it to pick up after the election.

Jonathan Carpenter of Cassidy Turley also expects to see leasing pick up after the election. But thus far, the pause hasn’t impacted his bread and butter—investment sales of industrial properties. Carpenter and colleague James Wellschlager, along with Jarred Testa and Tilghman Herring of Cassidy Turley’s Core Industrial Leasing Team, brokered the sale of the Oakland Mills Distribution Center.

The 61% leased complex consists of two warehouses located at 7075-7081 Oakland Mills Rd. The seller was Emory Properties and the buyer, Boston-based TA Associates.

“We're closing deals at a fairly aggressive clip, so no, I wouldn’t say the leasing pause is having an impact,” he says. “Everyone recognizes the historical recovery that has happened in the Corridor and people are making the assumption it will happen again.”