MRP Inks 3 Leases for Industrial Space in MD
- Aug 31, 2018
MRP Industrial has inked three separate leases totaling 1.5 million square feet of industrial and distribution space in Harford County, Md. Two of the deals were for Eastgate 95, a 250-acre logistics park in Aberdeen and the other was for a site in Perryman.
Logistic provider Kuehne + Nagel signed a full building lease totaling 656,880 square feet of distribution space at Eastgate 95. Located at 1100 Woodley Road, the facility will be operational in September and create 225 jobs in the process. On the adjacent 67-acre site, MRP will develop a 600,000-square-foot building, expandable up to 700,000 square feet, to serve as The Container Store’s east coast distribution facility. That space will create 150 jobs once the retail moves in 2019.
The third lease comes in the form of PrimeSource, a national building products company, which signed a 250,000-square-foot lease for a new building that will be constructed at 505 Advantage Avenue. The property will accommodate the requirement for 3 acres of outside storage and provide loading on two sides of the building. The company will be relocating from its current Aberdeen location in early 2019 as well.
Continued development plans
This major leasing activity has prompted phase II of Eastgate 95, which will feature more than 1 million square feet of speculative industrial and distribution space. Construction is scheduled to begin in spring 2019 and be completed by the end of the year. The next building will include 36-foot clear heights, four grade level doors, 242 dock doors, expansive truck courts and space for 450 vehicles and 300 trucks to park.
The completed Eastgate 95 will comprise three buildings totaling 2.3 million square feet. The property provides development options ranging from 600,000 to 1.5 million square feet, with flexible trailer storage and auto parking spaces. The project is located 30 miles from Baltimore, 34 miles from the Port of Baltimore, and two miles along the AMTRAK line, Interstate 95 and Aberdeen Proving Ground.
CBRE’s Senior Vice President Bill Pellington is handling marketing and leasing for Eastgate 95. Pellington, along with MRP’s Co-Founder & Principal D. Reid Townsend, represented the landlord on all three transactions. CBRE’s Senior Vice Presidents Mike Elardo and Toby Mink, along with Real Estate Advisory Partners’ Senior Vice President Sean Fitzsimmons and Cushman & Wakefield’s Director Michael Kimmel, represented the three tenants.
“Our properties in Harford County have been benefited by a strategic location along the Interstate 95 corridor that can access approximately 40 percent of the United States population within a one-day truck drive,” Townsend told Commercial Property Executive. “Harford County officials are extremely seasoned in responding to these requirements and their efforts to attract and retain each company played a significant role in our success. Recent momentum in the warehouse and logistics sector throughout the Mid-Atlantic region remains extremely vibrant and we are proceeding with our next phase of speculative development with optimism and complete confidence.”
Renderings courtesy of MRP Industrial