News
KOHL'S OF THE JUNGLE
March 31, 2011
| Who forgot to tell the March lion to get out of the way? And we're not just talking freezing temps. Kohl's roared yesterday and closed on its acquisition of 1701 Trimble Rd in Edgewood from ProLogis for$20.5M. Today it's a 602k SF warehouse, but by 2012 it'll be a 1M SF distribution center supporting 1,200 jobs in Harford County. |
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| Sources tell us the deal includes a 29-acre parcel adjacent to the warehouse where the 400k SF expansion will be located. Kohl?s moves in this July and will use the space for its online shopping arm. Store planning EVP Ken Bonning tells us the company picked the site for its central East Coast location and proximity to workers. It's Kohl?s third US distribution center (the others are in San Bernardino, Calif., and Monroe, Ohio) and Ken says it plans to open 40 new stores and remodel 110 this year. C&W's Matt Laraway repped the buyer and ProLogis was repped by CBRE's Bill Pellington. |
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| More sales news: today, 260 Interstate LLC acquired 260 Interstate Circle (how convenient) in Frederick from Business Space Providers for $8.5M. The 103k SF building is 100% leased to four tenants. Fitgerald Realty Group's Jim Fitzgerald represented Business Space and the buyer was repped by HBW Group's Sandra Hunt. |
