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DULLES, VA-Denver-based ProLogis is poised to ramp up leasing activities in two of its DC-area facilities as various construction and redevelopment activities near completion.
According to Mark Levy, vice president and market officer for ProLogis, a 60,000-sf lease could be signed in the near future for ProLogis Park Gateway, the company's 50-acre industrial park near Washington Dulles International Airport.
Levy tells GlobeSt.com that a Hartford County, MD property also is poised to sign on new tenants. ProLogis acquired the 602,000-sf building at 1701 Trimble Rd. in Edgewood, MD from Gap Inc. last November when it moved its operations to Missouri. ProLogis then launched a series of upgrades to the fire protection system, 47 rear-load dock doors and mechanical dock levelers, bumpers and seals plus improvements to the office area. Levy can't say how much went into the upgrades, but the work wraps up this week.
The company has not signed any tenants as of yet, but Levy says it has many good prospects. "We are encouraged by the activity," he adds.
ProLogis has 800,000 sf of developable land at Edgewood. "We are looking at those possibilities right now," Levy says.
The facility borders the Aberdeen Proving Ground so it's likely to attract government contractors, Levy believes. "This is one of the largest bulk industrial buildings in Hartford County," he says. "There is no other facility in this submarket that offers this kind of space."
ProLogis' team also expects to bring in new tenants to ProLogis Park Gateway at Dulles, located at the junction of Route 606 and Pacific Boulevard, now that part of its second phase is nearing completion. ProLogis is planning to develop five buildings, totaling 399,000 sf of light-industrial and distribution space in the park. The first three buildings will come on line this month. According to local sources, a 65,000-sf structure has been sold to Federal Bakers, which services Starbucks. The other two buildings were built as spec, one of which is being weighed for the 60,000-sf deal. By the end of the year, ProLogis expects to begin construction on another 180,000 sf in two buildings at Dulles.
Levy says ProLogis recently tapped two executives to augment its leasing efforts in its DC portfolio. Connie Rhodes, now based in Baltimore, was hired from Phillips Edison and Kim Price left the Scranton Plan Economic Development Agency in Pennsylvania to join ProLogis' Washington, DC team.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
