ProLogis, a global provider of distribution facilities, announced it has leased 92,000 square feet of newly renovated distribution space in Baltimore to Price Modern, one of the largest commercial contract furniture dealers in the United States.
Price Modern will occupy the space in ProLogis Park Desoto Building F. Originally constructed in 1959, the building was acquired and completely renovated by ProLogis beginning in the fall of 2007. Improvements included new office space, 20-foot glass windows surrounding the entrance, a new roof, new dock doors and a new energy-efficient lighting system. With this lease, the 146,000-square-foot building is now fully occupied.
‘We are very pleased to announce this lease agreement with Price Modern,’ said Mark Levy, vice president and market officer at ProLogis. ‘We believe the new customer will find value in the modern amenities at the facility, in addition to its strategic infill distribution location.’
ProLogis Park Desoto is near the intersection of Interstate 95 and Hammonds Ferry Road in Baltimore. Via Interstate 95, the park offers direct access to several of the nation’s major highways including Interstates 70, 97 and 83.
Broker Bill Pellington with CBRE represented Price Modern in the transaction. ProLogis was represented by Ben Meisels, Adam Weidner and Mike Roden with CBRE.
With a 6.7-million-square-foot portfolio, ProLogis is one of the largest providers of distribution space in the Washington D.C./Baltimore area. Additional ProLogis customers in the region include Amazon.com, International Paper, Nippon Express and Kuehne + Nagel, Inc.