Transwestern bought land at 7801 Dorsey Run Rd from Echo Day Co on behalf of Principal Real Estate Investors and now will be the fee developer for a 158k SF spec warehouse. (Keep reading for the dogs.)
Mark Glagola (snapped with Transwestern colleagues Molly Benson, Tommy Gentner, and Cheryl Washington) arranged the deal, and Tommy will handle leasing. It’ll break ground within 60 days and be ready for tenants in the fall. Spec scares no one on this deal, Mark says, owing to the flight to quality and “severe” undersupply of Class-A space in the B-W Corridor. (People are starting to look for Class-A space under couch cushions and at the bottom of the washing machine.) Class-A nowadays means better trailer loading, 32-foot clear heights (rather than the previous standard of 24 feet), 50 x 50-foot column spacing, better car parking, and a top-of-the-line sprinkler system.
Mark is selling another brand-new, Class-A warehouse down the street, the 242k SF 8235 Patuxent Range Rd, for developers Atapco and Chesapeake Real Estate Group. Snapped last week (and a bit naked... don't tell your parents we showed you this), it’s 80% pre-leased to Feld Entertainment. He says investor interest has been heavy, and he expects a buyer to be named soon.
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