International eye care firm Alcon Imaginative and prescient has renewed its full-building lease at Meadowridge Enterprise Park in Elkridge, Md. The tenant prolonged the 142,008-square-foot dedication on the industrial facility owned by Knickerbocker Properties Inc.—an affiliate of Invesco Actual Property, CommercialEdge knowledge reveals.
Colliers Senior Vice President Michael McGugan, the lead dealer of the deal, alongside Senior Vice President Patrick Wifler, represented the tenant within the transaction.
The one-story Class B warehouse was accomplished in 1994 and sits on 8.2 acres. Situated at 6740 Enterprise Parkway, the property is roughly 14 miles from Baltimore, 33 miles from Washington, D.C., and sits alongside the Interstate 95 distribution hall. Different industrial tenants within the space embody Nexius Options, Keefe Provide Co., Agam Group and CyberCore Applied sciences, amongst others.
Mid-Atlantic industrial sector exercise
McGugan acknowledged in ready remarks that Alcon’s lease was one of many largest within the second quarter of 2022 within the space, which displays the continual demand for industrial area. In line with CommercialEdge knowledge, Invesco owns seven industrial services throughout the Washington, D.C., market and 4 within the Baltimore metro.
In March, Duke Realty Corp. signed Ace Logistics to a second lease growth of 41,900 sq. ft at its 2.4 million-square-foot Chesapeake Commerce Middle, an industrial park near the Port of Baltimore. The deal expanded the tenant’s full dedication on the location to 393,000 sq. ft.
Just lately, there have been a number of massive industrial transactions within the Mid-Atlantic area, together with two portfolio acquisitions. Ares Administration landed a $367.8 million mortgage for the acquisition of a completely leased, 23-building portfolio that sits alongside the Interstate 95 distribution hall. One other main industrial transaction within the area closed final month, when Aminim Group acquired a $53 million mortgage for the acquisition of a six-building ensemble, totaling 500,000 sq. ft within the Baltimore-Washington, D.C. metro space.
