LINTHICUM, MD-Opting to stay on at its current home, DHL Worldwide Express has renewed its lease of the entire 49,100-sf flex facility at 1015 W. Nursery Rd. The original lease was put in place by AirBorne Express before the shipping and delivery concern merged with DHL in 2003.
NAI KLNB represented both the tenant and the property owner. Jim Caronna spoke for DHL and John Boote represented the Rreef Funds.
Developed in 1990, 1015 W. Nursery is a single-story, class B structure that sits off the Baltimore Beltway in Anne Arundel County. Further details of the lease agreement between DHL and Rreef have not been disclosed; however, according to Delta Associates' Year-End 2005 Washington/Baltimore Flex/Industrial Market Report, the average asking rent for flex/warehouse space in buildings developed between 1988 and 2005 in Anne Arundel County is $7.15 per sf.
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