Sherwin-Williams Signs 2 Maryland Leases
Sherwin-Williams, a company specializing in paint and coating, has signed two leases in Maryland totaling 12,708 square feet of retail and industrial space.
The company inked a 9,000-square-foot lease at Timonium Exchange, a 200,000-square-foot industrial building in Timonium, Md.; and leased 3,708 square feet at Magothy Beach Plaza, a 30,000-square-foot retail center in Pasadena, Md.
Both properties are owned by St. John Properties.
“Sherwin-Williams’ new retail store at Magothy Beach Plaza will generate unique visitors and increase traffic to the entire shopping center,” Matt Lenihan, senior vice president of leasing for St. John Properties, told Commercial Observer. “The lease at Timonium Exchange adds another high-quality tenant to this building, which consistently maintains a high occupancy level.”
Notable tenants at Magothy Beach Plaza include Pivot Physical Therapy, Mutiny Pirate Bar and Ledo Pizza. Approximately 130,000 consumers reside within a five-mile radius, with household incomes approaching $120,000, according to St. John Properties.
“Because so many consumers own both primary and secondary houses in Pasadena, we believe the market is extremely fertile and offers long-term opportunities for a new paint store,” Chris Maylott, senior real estate representative for The Sherwin-Williams Company, said in a prepared statement.
Timonium Exchange is equipped with 18- to 20-foot ceiling heights and drive-in or front-loading docks. More than 22,000 vehicles pass the site on a daily basis, and nearly 80,000 people with a household income approaching $135,000, live within a five-mile radius.
The Magothy Beach location is slated to open in December, while the Timonium Exchange property will open in January.
Michael Sacks of St. John Properties represented the landlord in the Timonium Exchange lease, while the firm’s Eric Llewellyn represented the landlord in the Magothy Beach Plaza lease. Matt Copeland and Cooper Henry of KLNB represented the client.
Keith Loria can be reached at Kloria@commercialobserver.com.