Tag: construction

Looking to the Future of the Prince George’s County Industrial Market

Market Reports

It’s been an interesting year for the Prince George’s County industrial market; average rental rates have dropped since 2013, but have remained steady in 2014, and construction throughout the county has increased with many anticipated deliveries in the coming months.

Two significant industrial spaces are expected to delivery in December 2014, bringing a total of 352,000 square feet of new space to the market. SteepleChase 95 is online to deliver both of their spec buildings totaling approximately 270,000 square feet in the 4th quarter, which should offset the new tenancy in the marketplace and create an effective zero sum game for absorption.  In addition, The Brick Yard in Laurel is expected to come online with 85,000 square feet of space. There are also a number of additional projects that are expected to complete in early 2015.

With all this positive growth, Prince George’s County is situated to ideally serve the Washington DC metropolitan area’s industrial needs in 2015.

For our full Industrial Market Report Q3 2014, please click here.

Military Bases in Maryland Busy with New Construction

Market Insight

By Elizabeth P. Daily, Vice President, NAI Michael

The deadline of September 2011 for occupancy continues to pressure the construction teams to finish work on all military bases.  The biggest occupancy move is expected at Fort Meade with about 20,000 new jobs on Base and space needs near the Base as well for contractors.  Andrews is expecting 2,800 with new office buildings and improvements on the runways.

Fort Detrick in Frederick, Maryland has eight new labs underway and construction improvements to the Base such as improved gates.  Aberdeen has new office space underway in partnership with St. John Properties.  These buildings are leasing up prior to construction since this Base had no excess office space in place.  Major contractors are taking large amounts of space near these Bases since they recognize the shortage of existing inventories in the state, unlike Virginia where there is excess space waiting for occupancy.

Government contractors need to recognize that their needs will be met if they push forward the time lines for decisions – time is critical.

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2nd Annual Creating Kingdom Buil... @ First Baptist Church of Glenarden
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2nd Annual Creating Kingdom Buildings Conference @ First Baptist Church of Glenarden | Maryland | United States
      2nd Annual Creating Kingdom Buildings Conference Friday, October 6, 2017 – 8:00 am – 4:00 pm First Baptist Church of Glenarden Learn how to manage acquire, build and grow your house of[...]

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