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South Q2 2012 IND Report
South Q2 2012 IND Report
Current Market Trends Rental Rates Rental Rates have leveled out. Despite consistent market absorption, future leasing activity remains a concern for landlords. Overall leasing activity is down from Q1 2012. Despite the fact that the market experienced positive absorption, new activity began to lag as summer approached. Although down from the peaks of 2009/2010, free rent and tenant improvement dollars remain steady as landlords look to maintain face rents.
Leasing Activity
Tenant Concessions
Average Quoted Rental Rate By Submarket Corridor Southeast Southwest I-95 South Averages Flex $7.41 $5.76 $8.95 $6.77 O/W $5.11 $10.12 $4.45 $5.08 Bulk $5.09 $3.49 $3.94 $4.61 Average $5.40 $5.28 $4.22 $5.14
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For more information, contact one of our Industrial Brokers: Cassidy Turley 100 Light Street Suite 1400 Baltimore, MD 21202 Tel: 410.752.4285 Fax: 410.576.9031 www.cassidyturley.com
1781 Crossroads Drive Odenton, MD 237,000 SF 10 Years $4.85/2% $3.00 Sleepys Ohio State Teachers Assoc. New
1349 Charwood Road Hanover, MD 129,233 SF 11 Years $4.25/$0.25 annually $4.00 Zust Bachmeier RREEF New
8268 Preston Court Jessup, MD 20,070 SF 7 Years $5.40/3% $2.00 MacGrey Kenwood Management Renewal & Expansion
7476 New Ridge Road Hanover, MD 198,369 SF Bavar Properties Group Industrial Income Trust $11,650,000
7495 Race Road Hanover, MD 125,000 SF Prudential Real Estate Investors Exeter Property Group $8,250,000
Hollins End East Baltimore, MD 519,014 SF Preston Capital Management, Inc. Industrial Income Trust $30,282,000
About Cassidy Turley Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clientsfrom small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate servicesincluding capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
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Cassidy Turley Industrial Market Statistical Overview April 1, 2012 - June 30, 2012
Submarket Cassidy Turley Classification
Corridor Airport 100 Arundel Crossing Baltimore Commons Baymeadow Brandon Woods BWI Commerce Park BWIP Columbia Gateway Corridor Industrial Cromwell Business Park Guilford Industrial Harwood Industrial Park Hillside/Preston Gateway Industrial Trade Center Junction Business Park Marley Neck MD Wholesale Food Center Meadowridge Montevideo/Dorsey Run Oakland Ridge Park 100 Parkway Industrial Patapsco Valley Race Road Route 1 Corridor Route 1 Laurel Rt 100 Sieling Industrial Troy Hill Total Southeast Annapolis Industrial Brooklyn I-97 Industrial Route 2 Industrial Route 3 Industrial Rt 170 Telegraph Rd Business Pk Total Southwest Arbutus Industrial Baltimore City Southwest Camden Industrial Park Caton Research Center DeSoto Hammonds Ferry West Port, Camden Total Grand Total 69 35 24 41 25 43 2 239 930 6,385,507 2,117,863 2,907,277 1,709,154 1,448,506 2,560,612 233,886 17,362,805 73,649,107 996,433 264,968 691,970 233,634 252,234 271,579 131,000 2,841,818 10,129,658 15.60% 12.51% 23.80% 13.67% 17.41% 10.61% 56.01% 16.37% 13.75% 85,834 -52,916 95,142 53,600 -113,782 6,540 0 74,418 527,869 cassidyturley.com | 3 23 19 56 34 21 17 3 173 777,901 1,677,159 1,756,607 1,078,403 594,486 1,341,769 125,083 7,351,408 96,188 341,225 118,841 68,555 51,570 460,047 0 1,136,426 12.37% 20.35% 6.77% 6.36% 8.67% 34.29% 0.00% 15.46% -57,087 130,000 47,517 -4,095 8,735 4,400 0 129,470 3 11 30 17 17 14 67 4 18 14 34 9 8 14 18 8 17 13 18 17 5 24 7 4 33 21 30 27 16 518 737,600 1,706,054 3,391,213 2,073,594 1,963,126 511,658 5,813,102 2,168,713 2,050,248 707,632 2,681,772 159,645 1,566,168 669,887 1,205,248 1,755,835 2,946,843 1,707,670 1,829,848 961,632 484,450 1,398,347 1,195,772 277,855 1,633,889 1,346,020 2,726,585 1,265,308 1,999,180 48,934,894 0 76,445 300,273 76,100 185,618 126,400 1,052,314 858,995 134,289 66,657 645,933 21,800 26,208 70,240 165,527 28,886 0 234,400 466,234 65,965 0 365,751 216,299 125,000 95,335 82,100 366,141 184,113 114,391 6,151,414 0.00% 4.48% 8.85% 3.67% 9.46% 24.70% 18.10% 39.61% 6.55% 9.42% 24.09% 13.66% 1.67% 10.49% 13.73% 1.65% 0.00% 13.73% 25.48% 6.86% 0.00% 26.16% 18.09% 44.99% 5.83% 6.10% 13.43% 14.55% 5.72% 12.57% 0 237,156 -9,262 0 217,060 -6,300 -96,471 -106,865 47,777 8,392 25,314 -7,800 0 -14,370 25,218 -886 78,000 -42,400 0 -15,000 0 0 0 0 11,726 28,240 -105,992 50,444 0 323,981