idX Moving to Columbia

In what will likely end up one of the largest industrial lease transactions in Maryland this year, idX has signed a lease for 434,490 square feet at 8901 Snowden River Parkway in the Gateway Commerce Center. This lease will fill 45% of the almost one million square foot industrial building, built in 1971, that once housed an appliance manufacturing facility for GE. More recently the space was occupied by GTX Logistics who vacated the property last summer.

idX is moving from its existing facilities in Odenton.

RREEF funds purchased this building in 2007 knowing that GTX would be vacating. At that time there was speculation that this would be a redevelopment play and that the property would be repositioned for retail and office. The covenants on the land, however, prohibit any use besides industrial until the year 2020.

Interestingly enough, the idX lease is for ten years.