In 731,500-SF Deal, FILA Doubles Its Distribution Center Footprint
CBRE says that this is the largest industrial lease transaction in the Baltimore Metro area for the first half of 2018.
PASADENA, MD–FILA North America has more than doubled its distribution center space in this submarket, signing a 10-year lease for a space that sits next to its current facility.
CBRE Industrial and Logistics Group arranged the lease, which totals 731,500 square-feet at 7269 and 7630 Gambrills Cove Rd., which are owned by Grammercy Property Trust.
FILA North America is renewing its 379,102 square foot lease at 7630 and taking an additional 352,850 square feet at 7269, to increase distribution capacity. This represents the largest industrial lease transaction in the Baltimore Metro area for the first half of 2018, according to CBRE.
Or put another way, the deal contributed 1.4 million square feet of positive net absorption for the Baltimore metro industrial market, Bill Pellington, Senior Vice President at CBRE, tells GlobeSt.com.
Pellington and Jon Casella represented FILA North America and facility owner Grammercy Property Trust was represented by Michael Walsh.
Located in the Marley Neck industrial area of the Baltimore-Washington Corridor, the facility features a high-cube, 42-foot clearance, air conditioning throughout, 285,000 square feet of racking systems with in-rack sprinklers, and a security system with 62 HD cameras. The expansion has also given the company access to the Port of Baltimore.
FILA moved into the first building about two years ago and has since come to complete capacity, Pellington explains. “They always coveted this building but until now it wasn’t available.”
If this building hadn’t been available there were a handful of existing buildings sized appropriately for them, he says.