Sephora Expands to Entire 316,500-SF Warehouse

(To read more on the industrial market, click here.)

BELCAMP, MD-A new lease agreement has left the 316,500-sf warehouse 100% occupied by a single tenant. Sephora USA Inc., which maintains its central distribution center in the industrial building at 4622 Mercedes Dr., just extended and expanded its occupancy under a long-term lease. The San Francisco-based cosmetics company will go from operating in 200,000 sf of space to making the entire structure its home.

Cushman & Wakefield’s Jean Wirsching worked with Sephora’s Marty Flaherty in representing the tenant. Property owner Berwind Property Group represented itself.

Developed in 1996, 4622 Mercedes Dr. sits on a 15-acre parcel in Harford County, about 20 miles outside of Baltimore. “We are strategically located on the I-95 corridor, close to several international airports and seaports, and have access to a hard working and very talented work force,” Flaherty says. Financial specifics of Sephora’s lease have not been disclosed. The average asking rent for warehouse space in the Harford/Cecil submarket is $4.18 per sf, according to MacKenzie Commercial Real Estate Services’ Baltimore Metropolitan Area Second Quarter 2005 Market Report.