69,850 square foot industrial/warehouse building owned by Buligo Capital
Lee & Associates | Maryland executed two leases comprising 12,600 square feet of space over a three-week period to bring 8919 McGaw Court, a 69,850 square foot industrial/warehouse building in Columbia, Maryland, to 100 percent occupancy. The full-service commercial real estate brokerage firm based in Columbia was selected by owner Buligo Capital as the exclusive leasing firm for the building in 2022. Kate Jordan, SIOR, Principal; Marley Welsh, SIOR, Vice President and Principal and Samantha Eckels, Associate represented the owner in both transactions.
Latin grocery store Chale Chile Galindo, LLC and Lids and Jars, LLC, a group which produces custom-printed containers, each signed leases with Buligo Capital for 6,300 square feet of space and are expected to take occupancy within 8919 McGaw Court later this year.
8919 McGaw Street is equipped with 19 and 20-foot clear ceiling heights, dock-high and drive-in loading docks and a free parking lot that can support more than 40 vehicles and trucks. The building is situated at the intersection of Dobbin Road and McGaw Court and less than 15 miles from BWI Airport and downtown Baltimore and approximately 30 miles from Washington, D.C.
“Buligo Capital selected Lee & Associates for this leasing assignment because we were well aware of the team’s intimate knowledge of the local market and sustained track record for success,” stated Monica Defruscio, Associate Vice President, Industrial Asset Management, Buligo Capital. “This decision was rewarded with the signing of two strong leases which were executed in a remarkable three-week period. Kate, Marley, and Samantha expertly guided us through the entire process to achieve 100 percent occupancy and generate long-term value.”
According to research generated by Lee & Associates, the vacancy rate for industrial/warehouse buildings in Howard County was 7.4 percent in Q1 2024.
“Both companies had very specific real estate requirements with tight deadlines, and we were able to present 8919 McGaw Court and conclude these transactions in record time,” explained Kate Jordan of Lee & Associates. “Part of the speed can be attributed to the scarcity of this asset class in the Baltimore-Washington corridor area. But, more importantly, we were negotiating with three highly-motivated parties that all shared a common goal of getting the deals to the finish line. When those principles are in play, we can achieve results in extremely short timelines.”
Lee & Associates is a commercial real estate brokerage, management, and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit https://www.lee-associates.com/offices/office/?id=1591
