X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OWINGS MILLS, MD-An affiliate of Philadelphia-based BPG Properties Ltd. has executed a 28,319-sf, long-term lease with Skyland Industries Inc. for Owings Mills Commerce Center. The move-in is set for Oct. 1.

The building will be the headquarters for Skyland Industries Inc. and affiliate Heavyweight Title Co., a provider of title services in the Baltimore region, both of which now headquarter in Owings Mills. Baltimore-area brokers Ken Bernstein of Abeshouse Partners represented Skyland and John Macsherry of Trammell Crow Co. represented the owner, Owings Mills LLC.

Owings Mills Commerce Center is a 132,766-sf, two-building complex situated in the 1.4-million-sf Business Center at Owings Mills about 15 miles northwest of Baltimore. With the Skyland lease, 11500 Cronridge is now fully occupied. There is 22,650 sf available in 11460 Cronridge.

Roger Byecroft, vice president of Asset Management for BPG in Reston, tells GlobeSt.com that the owner is particularly pleased with landing Skyland because it is an office tenant and not a flex user. The owner is trying to weight the complex with office tenants, he adds.

Owings Mills’ tenant roster includes Ryan Homes in 7,372 sf of office space; NovaTech, 24,500 sf of which most is office space and a light-assembly area; distribution company Ademco, occupying more than 10,000 sf; and a small day care center in about 4,200 sf.

“The repositioning strategy is a combination of making strategic repairs to the property, such as the facade as well as other renovations and expanding the parking facilities,” Byecroft says, adding the owner has invested more than $5 per sf into renovations, repairs and landscaping since last year’s acquisition. Renovations are expected to be complete in February.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.