Feld is headquartered in Virginia but the company selected Jessup to house its merchandise storage and distribution operations because of its access to ports, railroad lines and transportation motorways, Schweitzer tells GlobeSt.com. "Jessup is in the heart of the BWI Corridor. Feld brings merchandise in from a variety of locations so this was a good central base for it," he says.
It is little secret that this is a tenant's market and Feld's transaction stands out in that few companies are expanding right now while taking advantage of landlord's concessions. Not surprisingly Feld also secured favorable leasing terms, although Schweitzer declined to provide specific numbers. In a prepared statement Feld Entertainment SVP and CFO Michael Little says that as part of the negotiations, the landlord offered Feld Entertainment a generous rent abatement to help offset the cost of expanding its distribution operation.
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