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NWL Inks 56,000-SF Lease at Catonsville Plaza

CATONSVILLE, MD-In this tight retail market, rents range from $18 per sf to $8 per sf in the submarket.

By Erika Morphy | Updated on October 27, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

CATONSVILLE, MD-National Wholesale Liquidators has signed a 10-year lease to occupy 56,309 sf at Catonsville Plaza here. The retailer approached Forman Mills, another tenant in the 277,666-sf center, to see if it would be willing to share space, Geoff Mackler, a broker with H&R Retail, tells GlobeSt.com. This approach is an unusual tactic but understandable given the low vacancy rates for retail space in this submarket, he says.

“It’s a tight market right now and difficult to find space of that size,” he says. Mackler estimates vacancy rates to be under 5%. Rents for space in this market can range from $8 per sf to $18 per sf, depending on how close the facility is to I-695 and the building’s quality, he adds.

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