Transwestern today announces it represented ZIP Mailing Services in a 48,511-square-foot industrial lease restructure at 6304 Sheriff Road in Landover, Maryland. Transwestern’s Brian Watts, Jeff Groves and Jason Sullivan represented ZIP in the transaction.
“We helped ZIP reduce its rental rate by renewing its lease more than a year in advance,” said Sullivan. “In exchange for the discounted rent, ZIP agreed to a longer renewal term. All in all, this is a win-win for both ZIP and the building ownership.”
According to Transwestern research, the suburban Maryland flex/industrial market strengthened during the second quarter of 2017, registering positive net absorption of 50,000 square feet.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.