CNX Marine Terminals is a 3rd party logistics material handler, which needed to expand its leasehold interest near the Port of Baltimore to accommodate an international customer that was growing its business in Baltimore.

Challenge

• CNX was not accustomed to leasing 3rd party warehouse space in the market.
• CNX needed to move quickly to secure the space and achieve an aggressive deal.
• CNX required a sophisticated broker who was familiar with the market and could negotiate in their best interest.

Services

• CNX engaged Craig S. Lewis, SIOR, and J. Richard Latini, SIOR, of Colliers Pinkard to exclusively represent its interest in its negotiations for warehouse space.
• Craig Lewis and Rick Latini renegotiated their existing lease commitment and expanded their interest at the Point Breeze Business Center.

Results

• The lease renegotiations and expansion allowed CNX to leverage its position with a larger real estate requirement and achieve an aggressive rental rate for the lease transaction.
• In summary, CNX leased 532,515 square feet at The Point Breeze Business Center.

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