Karen Glenn Hood of Maryland's Department of Business and Economic Development tells GlobeSt.com that Comcast will be offsetting some $8 million in anticipated tenant improvements, equipment purchases and other construction costs with state incentives. This includes a $500,000 loan from the Maryland Economic Development Assistance Fund and an additional $50,000 from the county.
The space will include new technology as well as an exercise center, auditorium, break rooms, training and meeting facilities and on-site parking. The first wave of employees, primarily customer service agents who will provide technical support for Comcast's high speed Internet, digital voice and advanced video products, will be moving in Q1 of next year. Jones Lang LaSalle represented Comcast in the transaction. John Myers of Cassidy & Pinkard Colliers represented the building's owner, MGP Real Estate.
This building is nearing occupancy, having signed on two major tenants this month. Besides the Comcast transaction, Myers also closed a lease for 16,041 sf, signed by Harris Corp. Mike Wiley of Equis Corp. represented Harris in that deal.
Myers tells GlobeSt.com that there is some 25,000 to 30,000 sf of space still available on the first floor in the building. Asking rates for the class A property are $24.95 per sf. Completed in 2000, 1301 McCormick Dr. is a four-story, 178,845 sf building.
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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.
