Commercial real estate developer ProLogis leased more than 600,000 square feet of distribution space north of Baltimore to a national home improvement products retailer to serve as the company's logistics facility for the eastern United States.
Michael Nachamkin, ProLogis senior vice president and regional head of capital deployment, called the lease "one of the largest ever for the Baltimore market. The transaction highlights the attractiveness of this property as a logistics site for customers with large-scale distribution needs on the East Coast," he said.
ProLogis acquired the property - including the building and 175 acres of land - in late 2005 and renovated the site with additional dock doors, energy efficient lighting and a new sprinkler system. The retailer leased 100 percent of the distribution space at ProLogis Park Edgewood, off Interstate 95 about 25 miles north of downtown Baltimore.
ProLogis Park Edgewood can accommodate a total of four buildings with 1.45 million square feet of space.
Denver-based ProLogis owns, manages or has under development more than 6.8 million square feet of industrial space in the Washington, D.C.-Baltimore area.