COLUMBIA, MD-Transwestern reports it intends to build a speculative 152,000-square-foot warehouse office building at Dorsey Run Road and Route 175 in Howard County.
Mark Glagola, a senior vice president for Transwestern, said the project site is under contract and the company has obtained site plan approval to build the industrial development, according to the Baltimore Business Journal. If the land acquisition is successful, construction could begin on the warehouse within two months and would be completed four to five months after breaking ground, he says.
"It's one of the few remaining sites left in the [Baltimore-Washington] corridor where you can build Class A bulk," Glagola says. "We are a big proponent of Class A bulk because we think there is a real flight to quality." Locally-based Principal Financial Group will be the equity partner in the development if the land acquisition deal closes.
While the building is technically being built on a speculative basis, Glagola notes Transwestern has "already contacted some initial tenant interest and we believe there is strong demand in the marketplace for the newer, modern buildings." See story in the Baltimore Business Journal.
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