Entertainment Co. Renews 114,500-SF Commitment

JESSUP, MD-The 142,000-sf industrial structure at 8230 Sandy Court will continue to serve the needs of Feld Entertainment Inc. now that the company has decided to renew the lease on its 114,500 sf of space under a long-term agreement. The parent company of Ringling Bros. and Barnum & Bailey, Disney On Ice, and Disney Live!, Feld had looked around at other warehouse options for use as its distribution center for concession activity-related supplies. However, with the assistance of real estate services firm Studley, company officials decided its current location would be most suitable–especially since the new lease includes an option for the remaining 27,500 sf of the 20-year-old building, which Feld expects to exercise.

“After an exhaustive search of available warehouse options, the Jessup facility’s central east coast location and proximity to the Port of Baltimore and Feld Entertainment’s headquarters made renewal the most economically sound choice,” says Hamilton Loving, corporate managing director for Studley’s Suburban Washington office. Specific terms of the entertainment corporation’s renewal with property owner AMB have not been disclosed; although KLNB Inc.’s Alan Ruorda, who represented AMB in the transaction, tells GlobeSt.com that space in the building is typically marketed for between $4.25 and $4.75 per sf.