Maines Paper & Food Service Renews for 99,000 Square Feet in Maryland
SAVAGE, Md., May 20, 2013 - Cushman & Wakefield has orchestrated a 10-year renewal by Maines Paper & Food Service, Inc. for 99,000 square feet of industrial space at 8730 Bollman Place in Savage. With the signing, Maines, one of the country's largest distributors to independent and chain restaurants, will continue to occupy the entire building.
The Baltimore-based Cushman & Wakefield team of Michael Elardo, Jared Ross and Michael Kimmel represented owner Terreno 8730 Bollman LLC, an affiliate of the California-based Terreno Realty Corp., in the signing. Cushman & Wakefield had previously arranged the acquisition of the facility by Terreno from Franklin Street Properties in 2011. The tenant was represented by Dan Hudak of MacKenzie & Associates.
"The tenant, which has been on-site for a number of years, determined that their best option for serving their clients in the Baltimore-Washington marketplace was to remain at 8730 Bollman Place," said Elardo. "This building substantially consists of freezer and refrigerated space, and there are few options like that in this market. The tenant clearly recognized that in their decision-making process."
Maines' ongoing location in Savage is situated on 12.45 acres, with proximity to Interstates 95 and 295, as well as routes 1 and 32.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions - totaling 261 million square feet - with an aggregate value in excess of $8.43 billion.