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BALTIMORE, MD-Local caulk and sealant manufacturer DAP Inc. has renewed the lease on its 168,550-sf warehouse space at the 83-acre Marshfield Business Park for a seven-year term. While the financial terms of DAP’s commitment to the structure at 8410 Kelso Dr. are not being disclosed, space in the park leases for an annual rate of about $4.50-per-sf, so the manufacturer’s deal could be valued at as much as $5.3 million, or so.

“DAP was just coming to the end of its three-year term,” Colliers Pinkard’s David M. Gillece explains to GlobeSt.com. Gillece and colleague Craig S. Lewis represented the tenant while Trammell’s John Childs and Bob Millhauser represented property owner UPS Properties, a real estate subsidiary of United Parcel Services. “They found the location works well. It’s in close proximity to their plant in Eastern Baltimore County, and that was one of the reasons for the decision not only to renew but to extend the lease for a longer period of time.”

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