News
SECRETS BEYOND THE CBD
January 5, 2012
| Blue-chip tenants are interested in more than just the CBD. The northern suburbs of Baltimore, like Towson, appeal to engineers, head hunters, call centers, insurance guys, and accountants both to live and to work. We don't know of any adult-size sandboxes, so the live-work-play triple threat is still up in the air. |
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| Disclosure: NAI KLNB's good-natured Jim Caronna, Bill Miller, and Tom Maddux had no idea they were being photographed. Bill tells us the 105k SF Foxleigh Building at the mixed-use Green Spring Station in Timonium is one example of suburban appeal. It's about relocating the business closer to home and upgrading office space. The landlord Bill reps there is not signing just any company but rather waiting for the right tenants to round out its white-collar pool, he says. Smith Barney, for example, has been there since the beginning in the late '80s and just renewed for another 10 years. He also says several Hunt Valley deals near closing will take a fair amount of space off the market. |
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| Jim tells us the industrial property up north around I-83 is slowly converting to other uses (pssst, like office). Restoration Hardware's 1.2M SF warehouse lease Northeast of Baltimore, along I-95, still makes sense. That industrial corridor is going strong, with plenty of developable land. 95 heads northeast to Boston, New York, and Philly, of course, but access to DC and Virginia via 95 SW is what makes Harford and Cecil counties better options than New Jersey for distribution hubs. And other companies, like Procter & Gamble and Ikea have located there, too, Jim says. |
