ELKRIDGE, MD-United Healthcare Services, an operating divisionof UnitedHealth Group, has renewed its 43,727-square-foot lease atLyndwood Executive Center, at 6085 and 6095 Marshalee Dr. Thetransaction is good news for the building owner, Multi-EmployerProperty Trust, and for market watchers eager for some sign that alandlord’s market may be on the horizon, no matter how distant.
The fund agreed to an aggressive rental rate for the tenant tostay, CBRE’s Kim Penny tells GlobeSt.com. “But there were noconcessions beyond that.” Six months ago, “concessions would havebeen involved.” Penny, along with colleagues Abby Glassberg LauraWestervelt, represented the owner.
Granted, it is one anecdotal example, but a telling one. Thetenant had a number of options available throughout Howard County;it was not, in other words, looking for a marquee location in theEast End or CBD.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
