Building, initially developed for Circuit City, located in Brandywine section of Prince George’s County near MD Route 5 and US Route 301
Chesapeake Real Estate Group, LLC (CREG) has been named the exclusive leasing broker for a 393,000 square foot warehouse and distribution facility in Prince George’s County that was formerly occupied by hhgregg. The Indianapolis-based electronics retailer recently announced plans to close eighty-eight stores around the country, including ten locations in Maryland. The announcement was followed with the company’s plans to file for bankruptcy protection. Matt Laraway, SIOR and Scott Skogmo, SIOR, of Chesapeake Real Estate Group are handling the project on behalf of the property owner.
Positioned at 14301 Mattawoman Drive near the intersection of MD Route 5 and US Route 301 in Brandywine, Maryland, the building was originally developed as a warehouse and distribution facility for Circuit City in 1998. It features twenty-seven foot ceiling heights, forty-nine 49 dock doors and parking spaces for one hundred and fifty-four cars and sixty-six trailer spaces. Situated on approximately twenty-nine acres of land, the building is also configured with approximately 13,000 square feet of office space.
Hhgregg also plans to close distribution centers in Philadelphia and Miami and the Maryland-area building will become available on June 1.
The offering is the largest bulk distribution facility available in close proximity to the Washington DC market area, with immediate access to Interstate 95, the entire east coast of the United States, representing more than 50% of the country’s population, can be reached within a one-day drive from the site.
“We see continued demand for bulk warehouse space throughout the Baltimore-Washington, D.C.-Northern Virginia corridor, especially in the e-commerce category as retailers strive to keep pace with the steady rise of Internet shopping and respond to the consumer requirement of immediate shipping,” stated Matt Laraway, Executive Vice President and Partner of Chesapeake Real Estate Group. “The overall pace of new warehouse construction has slowed due to the scarcity of available land, making existing product with suitable ceiling heights and loading configurations increasingly valuable.”
Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland is a full-service commercial real estate operating company that includes brokerage, property management and development services. The firm currently has 2.2 million square feet of industrial projects in some phase of development and 3.2 million square feet of industrial, office and retail under management in the Mid-Atlantic region. Notable projects include Penn 95 in Prince George’s County, Baltimore Crossroads in White Marsh, Perryman Logistics Center in Harford County and Port 95 in Baltimore City. For more information visit www.cregllc.com
