CHESAPEAKE REAL ESTATE GROUP AND USAA REAL ESTATE COMPANY ACQUIRE NEARLY 50 ACRES OF LAND IN ABERDEEN, MARYLAND FOR DEVELOPMENT OF 571,000 SQUARE FOOT DISTRIBUTION BUILDING
From Chesapeake Real Estate Group, LLC:
Baltimore-based commercial real estate company partners with USAA Real Estate Company for speculative project expected to be completed in Harford County by summer 2015
Chesapeake Real Estate Group, LLC and their financial partner USAA Real Estate Company have announced the acquisition and groundbreaking of a 48.4 acre, 571,000 square foot warehousing distribution building on a speculative basis in the Aberdeen section of Harford County, Maryland. The companies development of the Perryman Logistics Center will be a state-of-the-art project located at 610 Chelsea Road, with completion expected in summer 2015. It will include a separate Climate controlled warehouse space.
Bill Pellington, Toby Mink and Jon Casella of CBRE represented the buyers in this land sales transaction and their team has been selected as the broker to market and lease Perryman Logistics Center. The land was formerly owned by FO Mitchell Bro.
The Class “A” industrial building will feature 36 foot clear ceiling heights, 175 rear loading docks and two drive-in docks, a 130 foot truck court and an adjacent surface parking area that can accommodate more than 500 vehicles. The project is situated within immediate proximity to Perryman Road (MD Route 159), and is less than four miles from US Route 40, eight miles from Interstate 95 and approximately 30 miles from the Port of Baltimore.
“Strong and sustained market fundamentals, led in particular by the enormous appetite in the e-commerce sector for large-scale distribution and warehouse projects, have given us extreme confidence to move forward with this strategically-located speculative project,” explained Jim LIghthizer, Founder and Owner of Chesapeake Real Estate Group. “The e-commerce industry is growing at the rate of 15 to 20% annually, and we are aware of numerous manufacturing and distribution companies that are searching for fulfillment centers close to significant population markets such as Baltimore. Our development team has deep experience in this product category and we are seizing this opportunity to leverage short-term and long-term market conditions.”
Perryman Logistics Center is ideally suited for large-scale warehouse, the facility is equipped with the best teardrop pallet rack system. The facilities are also suited for distribution and logistics operations and can also be sub-divided to satisfy the customized real estate needs of several companies.
Has anyone explored other “empty” bldgs. in Aberdeen? Seems to be many.
I think they build these concrete buildings for fairly cheap, they let them sit and then lease them for around 75,000 a month to over a hundred thousand a month with multi year leases. making huge profits
That was exactly what I thought. There seems to be a lot of vacant space in this type of building. Makes you wonder what’s going on.
From Old Philadelphia Road to any of this warehousing, there is 2 lane access, 1 in and 1 out. There are not any areas to pass vehicles and when one truck or car turns off of Old Philadelphia Road onto Perryman Road and Does not know where they are going, it takes a long time to get passed all of the warehouses. Why has there been no thought to road improvements on both Perryman Road and Chelsea Road. The new Clorox warehouse has trucks clogging the road and just wait until Sephora gets into full operation. Spesutia road is also a nightmare to get in and out now for cars coming and going into the warehouse zones. Trucks still use it as a thru-road and don’t seem to be stopped, even though there is a 3/4 ton limit on the road. During very heavy rains, Chelsea Road gets flooded right at the entrance to Rite-Aid and no one seems to do anything about a permanent fix. Chelsea Road used to be a cow path and now thousands of cars and trucks use it daily. I’m afraid there will be many more accidents and road closures as the County allows more and more warehousing in this area without making major road improvements.