JESSUP, MD-Bechtel Corp. has signed a lease for 26,600 sf of space in the 57,300-sf 8280 Stayton Dr. Bechtel's lease agreement with property owner Bavar Property Group brings the occupancy level up to 100%.
NAI KLNB's John Boote and Robert Smith represented Bavar, while CB Richard Ellis' Kim Gero repped Bechtel. Additional specifics of the lease transaction have not been disclosed.
Developed six years ago, 8280 Stayton sits in the Route 1 Corridor, just off I-95 in Howard County. Bechtel took on the space at the single-story warehouse facility--it has a facility in Frederick, MD--to accommodate a new contract. According to Delta Associates' Year-End 2005 Washington/Baltimore Flex/Industrial Market Report, the average asking rate for flex/warehouse space built between 1988 and 2005 in Howard County is $6.55 per sf.
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