Former Dart Container Corporation building located on 630 Hanover Pike in Carroll County, Maryland

Lee & Associates | Maryland has brokered a full-building lease at 630 Hanover Pike, a warehouse/industrial building comprising more than one million square feet of space located directly off MD Route 30 (Hanover Pike) in the Hampstead section of Carroll County, Maryland. Formerly occupied by Dart Container Corporation, the asset was leased to a global leader in book publishing. Allan Riorda, SIOR and Ned Brady of Lee & Associates | Maryland, with assistance from John Van Buskirk, SIOR of Lee & Associates of Eastern Pennsylvania represented the landlord, STAG Industrial, Inc. in this lease transaction.

Contained on approximately 51 acres of land, the building features 32 foot clear ceiling heights, 85 dock doors and two ramped drive-in doors. It is positioned approximately 35 miles from Baltimore-Washington International Airport; 40 miles from the Port of Baltimore; 60 miles from Washington, D.C.; 65 miles from Harrisburg, Pennsylvania; 85 miles from Wilmington, Delaware and 125 miles from Philadelphia. The building was originally constructed to function as a distribution warehouse for Sweetheart Cup, which later became Solo Cup.

“The new tenant will utilize the building as a warehouse and logistics center,” explained Allan Riorda, SIOR, President/Principal, Lee & Associates | Maryland. “The site is contained within an area with a highly-skilled employee base in the Carroll County region, and the company will be able to quickly ramp up to satisfy its worker demand.”

“The warehouse/industrial sector continue to be the most prolific in the real estate category as evidenced by the continuing leasing activity and the below 9% vacancy rate throughout Maryland. The e-commerce habits of the American consumer was already growing exponentially and the onset of COVID-19 accelerated the among of products ordered on-line. We expect this trend to continue in the foreseeable future, combined with steadily climbing rental rates,” Riorda added.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of June 30, 2020, the Company's portfolio consists of 457 buildings in 38 states with approximately 91.8 million rentable square feet.

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.