Industrial park signs another tenant

August 12, 1993|By Consella A. Lee | Consella A. Lee,Staff Writer

Adheron Inc., a biotechnology company that develops adhesives from marine bacteria, is the latest company to lease space at Parkway Center I, pushing the occupancy rate at the industrial park near 99 percent.

That's the highest level of any such park in the Baltimore-Washington area, said David R. Paulson, vice president of marketing for The Svatos Co., the park managers.

The claim could not be independently verified, however.

Leases with Adheron, Southwestern Bell Mobile Systems Inc. and two other companies, total 83,925 square feet of space at the center near Baltimore-Washington International Airport, Mr. Paulson said.

"We're delighted to have each of them because they each bring something different to the park," he said.

Svatos, a Hanover-based real estate development and management firm, has 14 buildings and 907,755 square feet of space at Parkway Center I, a 265-acre industrial park.

The occupancy rate for the company at Parkway Center I was about 80 percent near the beginning of the year, but leapt higher with the new leases, Mr. Paulson said.

He credited optimism in the business community about the economy, "a good relationship to the brokerage community," and proximity to BWI for helping the company fill much of its space at the industrial park.

"I think people had been delaying moves for a long time and finally realized they had to make some big decisions," he said.

Besides good location, the company also has been able to offer functional building space that fits the particular needs of companies such as Adheron, which needs laboratory space to development its products, said Lynn Palmer, a business location consultant with the Anne Arundel Economic Development Corp.

"I'm dealing with another company right now and if they had more space like that it would be absorbed," Ms. Palmer said.

The Svatos Co. is an affiliate of The John Akridge Co., a Washington, D.C., commercial real estate development company.

In 1991, The Svatos Co., which focuses on industrial space in the suburbs of Maryland and the Virginia suburbs of Washington, acquired the portfolio of the former Parkway Cos.

The deal brought the firm more than 900,000 square feet of office, research and development and warehouse space in the Baltimore-Washington corridor.

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