Trammell Crow Co. will develop a 1 million-square-foot industrial undertaking in Hagerstown, Md. The build-to-suit facility will function the brand new major East Coast distribution heart for Lifetime Manufacturers, the Maryland Division of Commerce introduced.
Anticipated to be accomplished by the top of 2026, the Hagerstown facility will largely supplant Lifetime’s present distribution heart in Robbinsville, N.J.
Within the announcement, Lifetime Manufacturers CEO Rob Kay stated that the brand new facility will increase the corporate’s distribution capability by 327,000 sq. toes—and in a extra centralized location.
Trammell Crow Co. didn’t reply to Industrial Property Government’s request for added info. Kinsley Development is at present doing the location work for the brand new growth and Conewago Enterprises is the final contractor, the The Herald-Mail reported.
Officers together with Maryland Gov. Wes Moore, Maryland Division of Commerce Performing Secretary Harry Coker Jr. and Maryland Port Administration Government Director Jonathan Daniels all touted the placement’s logistical benefits and its entry to I-70 and I-81 and main rail traces, in addition to its proximity to the Port of Baltimore, facilitating the transportation of containerized cargo.
Lifetime Manufacturers is a worldwide designer, developer and marketer of a broad vary of client merchandise used within the house. It markets its merchandise below kitchenware manufacturers resembling Farberware, KitchenAid, Sabatier and Copco; tableware and giftware manufacturers resembling Mikasa, Pfaltzgraff, Gorham and Worldwide Silver; and residential options manufacturers resembling BUILT NY, Taylor Bathtub and Taylor Kitchen.
Lifetime additionally offers private-label merchandise to retailers worldwide.
Troubled bridge
Regardless of varied financial disruptions, most importantly the March 26, 2024, collapse of the Francis Scott Key Bridge, the metro Baltimore industrial area market has seen optimistic fundamentals, capped by a robust fourth quarter, in keeping with a latest report from CBRE.
Industrial leasing totaled 2.8 million sq. toes within the fourth quarter, predominantly within the Baltimore/Washington Hall, which boasted 5 offers of 100,000 sq. toes or larger.
The market ended 2024 with a 7.5 % total emptiness, 2.1 million sq. toes of web absorption and just one.6 million sq. toes below building.
Preconstruction actions for the Key Bridge reconstruction are underway, and Gov. Moore unveiled the design idea for the alternative bridge in early February. As well as, the state of Maryland reportedly continues to pursue the homeowners of the container ship that struck the bridge for financial damages.
In December, a three way partnership of Trammell Crow Co. and Realty Revenue Corp. broke floor on a $100 million, 655,200-square-foot build-to-suit industrial facility for The Residence Depot in Stockton, Calif. The undertaking is scheduled for completion in 2026 and can characteristic 5 bulk docks and 22 flatbed docks, along with parking areas for greater than 400 vans, trailers and different automobiles.
Earlier this yr, a three way partnership between Trammell Crow Co. and Clarion Companions additionally broke floor on the third and remaining section of Weiser Enterprise Park in Cypress, Texas. The undertaking is scheduled for completion in October.
