9,226 SF Lease to Growing Biotech Firm Brings Hanover, Maryland Flex Industrial Property to 100 Percent Occupancy
Hanover, Md. - July 31, 2020 - Newmark Knight Frank (NKF) announces a 9,226-square-foot lease at 1334 Ashton Road in Hanover, Maryland. The lease to Noxilizer–a provider of ultra-low temperature nitrogen dioxide sterilization technology to pharmaceutical, biotech and medical device manufacturers–brings the 37,309-square-foot building to 100 percent occupancy.
NKF Executive Managing Director Dan Callihan, Senior Managing Director Brian Kruger, Managing Director Karen Robertson, Associate Director James Cumber and Associate Erik Evans represented the building owner, Kenwood Management Company, in partnership with Feldman Bergin Development in the transaction. JLL’s Matt Lunnen represented the tenant, Noxilizer, who expanded their Maryland footprint by 88% through the transaction. In addition to the Noxilizer lease, NKF represented the owner in another recent lease contributing to the building’s full occupancy–Smartlink, LLC’s 12,080-square-foot lease in late 2019.
“In partnership with the new ownership of Kenwood Management Company and Feldman Bergin Development, our NKF leasing team has been able to bring the occupancy at 1334 Ashton Road up from 40 percent to 100 percent over the last 18 months,” said NKF’s Callihan.
According to NKF Research, the growth of the biotech and pharmaceutical industry is expected to help bolster the Baltimore region’s economy in the coming months as it ramps up to address the coronavirus pandemic. Through mid-July, the state of Maryland had been awarded $1.8 billion in government contracts related to COVID-19. This lease is a prime example of an industry that is growing during these uncertain times.
Bill Singer from Kenwood Management said, “Our ownership partners Feldmen Bergin Properties along with our leasing partners Newmark Knight Frank worked incredibly well together to produce these results. We look forward to working with them for many years on Ashton Road and hopefully on future projects.”
Nearly adjacent to Baltimore/Washington International Airport and two miles north of Arundel Mills, a 1.6 million-square-foot shopping destination owned by Simon Property Group and home of Maryland Live! Casino, 1334 Ashton Road is a single-story flex/office building totaling 37,309 square feet located in Hanover, Anne Arundel County, Maryland. Situated on 3.89 acres, the property is conveniently located off Route 100 providing easy access to I-95, the B-W Parkway and Route 97. The property is only five miles from Fort George G. Meade, the largest employer in the state of Maryland and home of the National Security Agency, U.S. Cyber Command and the Defense Information Systems Agency.