Business Digest

November 07, 2007

Leasing agent picked for Town Center

NAI KLNB has been selected by General Growth Properties as the exclusive leasing agent for a portfolio of seven Class "A" commercial office buildings, totaling about 1 million square feet of space in Columbia's Town Center.

The buildings are 10400, 10420, 10440, 10480, 10490 and 10500 Little Patuxent Parkway, and 11000 Broken Land Parkway. They are about 86 percent leased.

The Columbia Town Center sub-market, now in the planning stages for future revitalization, consists of about 16 Class "A" office buildings with about 1.6 million square feet of space. The average rental rate is estimated at $25.41 a square foot.

"I think it's a competitive rate, compared to other parts of the Howard County marketplace," said David Fritz, principal at NAI KLNB. "There are properties that are exceeding $30 a square foot in other parts of the market, including Ellicott City and Columbia Gateway. New construction is driving those prices."

With revitalization, Fritz said, "hopefully the tide will rise with increased rental rates; that's the goal."

NAI KLNB will handle leasing of the seven buildings; General Growth Properties will continue in its management role.

KLNB is a commercial real estate services firm with five locations in Maryland, northern Virginia and Washington.

Fornaro to speak at BWI breakfast

Robert L. Fornaro, president and chief executive officer of AirTran Airways, will be the featured speaker at the BWI Business Partnership's Signature Breakfast, to be held from 7:45 a.m. to 9:30 a.m. Nov. 15 at the BWI Airport Marriott Hotel, 1743 West Nursery Road.

The airline, the second-largest carrier at BWI, according to a news release, reported record traffic in the last quarter.

Registration for the breakfast is required by Tuesday. Members of the Partnership can attend at no charge or for $25, depending on membership level. Nonmembers pay $40, if seats are available.

Information or registration: 410-859-1000.

Business Digest items may be sent to howard.events@balt sun.com or faxed to 410-715-2816.

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