ProLogis desired to expand their national portfolio into the Maryland market.  They purchased two bulk industrial distribution projects, DeSoto Business Park and Patapsco Distribution Center, totaling 625,000 square feet.  Their aim was to reposition these properties for profitable long-term ownership.

Challenge
ProLogis needed a top quality, local full-service real estate firm to execute their strategy.   Colliers Pinkard was called on to simultaneously increase occupancy, restructure existing leases, improve operating efficiency, and conduct extensive capital improvements.

Services

• Increased occupancy from 56% to 80% at DeSoto Business Park.
• Conducted an aggressive marketing campaign that produced much needed short-term revenue to stabilize Patapsco Distribution Center
• Implemented a dynamic $2 million capital improvement program for roof replacement, new parking lots, facade repainting, over-head door replacements and a new signage program.
• Restructured leases to optimize CAM pass-through revenue.

Results
The net result is that aging Class B properties were successfully repositioned to high quality institutional-grade distribution centers.

 back to top