Food Processing Firm Cima Finds New Warehouse in Beltsville
By Keith Loria July 28, 2023 1:49 pm
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Cima Food has inked a 15,000-square-foot industrial lease at 12000 Baltimore Avenue in Beltsville, Md.
The Rockville, Md.-based company is a provider of processing and packaging equipment for freeze-drying and spray-drying of foods.
Bernstein Management Corporation owns the single-story warehouse, which was built in 1985 and spans 59,244 square feet, according to property records.
Ken Fellows, a principal with KLNB, represented the landlord in the lease. Fellows has overseen leasing on the property for several years and helped bring the space to 100 percent occupancy.
“This area is a growing submarket that has gained significant interest,” Fellows said in a prepared statement. “KLNB has a phenomenal understanding of the region, and that translates to our clients not having to wait very long to find great tenants.”
The commercial industrial real estate sector across the DMV is strong, with reduced vacancy and few landlords interested in selling their properties, though the strength of the national industrial market seems to finally be normalizing after a frenetic few years.
Suburban Maryland, made up of Frederick, Montgomery and Prince George’s counties, posted 65,000 square feet of negative absorption in the second quarter, and overall vacancy climbed 40 points to 3 percent, according to the latest figures from CBRE.
“In addition, ground-up development opportunities are scarce, further tightening the market,” according to the statement.
The Prince George’s County property is within two miles of Route 200 and Interstate 95, and five miles from Baltimore-Washington Parkway.
The tenant was represented by Gary Edell from 4Dimensional Real Estate Solutions.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at Kloria@commercialobserver.com
