Heavy Equipment Rental Company Herc Rentals Signs Lease for Nearly 31,000 sf of Space at 1200 Chesapeake Avenue in Baltimore
MacKenzie Commercial Real Estate Servies brokers lease on behalf of Alterra Property Group and says “the availability of outdoor storage space was the driving factor behind the real estate decision”
Heavy equipment rental company Herc Rentals Inc. has signed a lease with Alterra Property Group for 30,892 square feet of space within 1200 Chesapeake Avenue in Baltimore City. The Bonita Spring, Florida-based group, which has more than 400 company-operated branches throughout the United States and Canada, expects to occupy the site later this year. Andrew Meeder, SIOR and Dan Hudak, SIOR, both Senior Vice Presidents and Principals for MacKenzie Commercial Real Estate Services, LLC represented the landlord and the tenant was self-represented.
Situated on 8.19 acres less than two miles from the Fairfield Marine Terminal, the project features an L-shaped industrial buildings equipped with 15 – 18’ ceilings, 21 drive-in doors with drive-thru capacity, and a fenced, paved, and lit parking lot that encircles the structures. The site is less than two miles from I-895, seven minutes from I-95, nine miles from BWI Airport and less than 40 miles from Washington, D.C. The two buildings are separately configured to support predominantly warehouse and service functions, with small sections suitable for office/administrative and related uses.
Herc Rentals services the aerospace, automotive, entertainment, food and beverage, healthcare, remediation and manufacturing industries with an assortment of compaction and paving, earthmoving, light construction, material handling and power generation equipment, in addition to trucks and trailers. The group has more than 60 years of experience and employees more than 7,400 workers.
“The immediate and long-term availability of Industrial Outdoor Storage space was the driving factor behind this real estate decision,” stated MacKenzie’s Andrew Meeder. “Herc Rentals depends on these spaces to store large pieces of equipment, and the demand for this relatively-new asset class remains exceedingly high. The company intends to also use the interior of the buildings for storage, as well as to perform repair and maintenance services. A small amount of space will also be used for sales and administrative functions.”
The Industrial Outdoor Storage (IOS) category first emerged as a growth sector during the pandemic. Small areas of land, particularly those situated near major ports, were in high demand to store containers that recently arrived from ships overseas and needed a short-term holding area before moving to its next destination. Sites located directly off major highways, and those in infill submarkets, remain in high demand.
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
