SAVAGE, MD-A UK company has renewed space in an industrial building here, which remains fully leased. RapierGroup–a communications firm that uses 8700 Larkin Rd. as its US headquarters–is renewing 34,800 square feet in the building, owned by Invesco Real Estate. Transwestern brokers, Tom Gentner, Brian Watts, Mike Glagola and Michael Phipps represented Invesco. Jon Miller of McKenzie Real Estate represented the tenant in the deal.
Invesco Real Estate owns several industrial assets in this submarket. It recently closed another renewal in the same building with Aireco Supply, for 40,560 square feet. William S. McCullough of Lincoln Property Co. represented Aireco Supply, a wholesaler of HVAC/R residential and commercial equipment, in that deal. According to an earlier interview with Gentner, the market is holding its own despite the larger economic difficulties–a point illustrated with asking rates that have remained steady.
The 190,560-square-foot industrial building–8700 Larkin Rd.–has 100-foot deep truck courts, a 45-foot concrete dolly pad and 24-foot clear ceiling heights. Located at the intersection of MD Rt. 32 at US Route 1, the property is less than 2 miles from I-95. Additional tenants include Aireco Supply, Inc., Calico Industries, National Distributing Company, Inc., and Coastline Distribution.