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BALTIMORE- Herr’s, a Pennsylvania-based snack foods manufacturer, has leased 38,400 square feet of warehouse-distribution space at 4 Center Dr. in the North East submarket here. Matthew Laraway, Timothy Cahill, Ned Brady and Kara Parker of Cushman & Wakefield represented both the tenant and landlord in this transaction.

The property, owned by First Industrial Trust, has traditionally been occupied by a single user. However six months ago it decided to target multi-users, in order to avoid the risk of complete vacancy, Cahill tells GlobeSt.com.

The building has been empty for about seven months, he explains after the last full building user pulled out. “We came up with a leasing plan to target smaller users in order to have less rollover risk,” Cahill says. Currently C&W is working with another two prospects for 100,000-square-foot and 48,000-square-foot deals. Asking rates for the space are $4.25 per square foot, triple net.

Demand for industrial space here is still struggling–but doing better than it was six months ago, according to Cahill. “Space is being backfilled, but we worry about further business failure such as Pier 1 and Rite Aid, both of which are struggling and have a large warehouse presence here.” Companies that seem to do well are consumer goods and food manufacturers like Herr’s, which is expanding its private-label brand. It is using the space the manufacturing, warehousing and distribution of private-label snack foods.

The industrial distribution building at 4 Center Dr. is 345,600 square feet situated on 36.74 acres. It is located near Interstate 95 in the Cecil County Enterprise Zone with M-1 zoning. Available space for lease in the building measures out at 307,200 square feet.

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