Development site suitable for up to one million square feet of industrial development

Chesapeake Real Estate Group, LLC (CREG) has announced the acquisition of approximately 259 acres of land near Fort Smallwood Road in Anne Arundel County from Exelon Corporation, on a site known as Brandon Woods III. The transaction closed August 17 and CREG plans to develop up to one million square feet of industrial and warehouse space on the site. David Baird of Cushman & Wakefield represented the seller in this transaction.

Through a partnership with EverWest Real Estate Partners, CREG plans to immediately begin construction on Phase I, which will consist of a 500,000 square foot, 36’ clear, speculative industrial building. This mega-warehouse is ideally suited to ecommerce users and targets the largest distribution and fulfillment users in the country. It will be the largest speculative building ever constructed in Anne Arundel County, and one of the largest built in the State of Maryland.

“This is a great example of how state government can work with the business community to enhance the environment and strengthen our communities,” said Maryland Secretary of Commerce Mike Gill. “The Brandon Woods project adds to our state’s portfolio of excellent industrial sites. Having ample inventory is important as Team Maryland attracts new ecommerce and distribution investments to the state."

“This project is another example of the important role Anne Arundel County will play in our state and national economy,” said County Executive Steve Schuh. “Our county is perfectly situated to be a major hub for ecommerce, helping create jobs and prosperity in North County. I couldn't be more excited for this project.”

Chesapeake has recently completed projects totaling 571,000 square feet in Harford County, 435,000 square feet in Baltimore County, and is currently under construction with a 413,000 square foot building in Baltimore City. Together with a joint venture partner, ATAPCO, the company is building a 432,000 square foot build-to-suit facility for Eldorado Stone in Pennsylvania. Earlier this year, the company acquired more than 100 acres in Harford County for the development of approximately 400,000 square feet of space.

“With the scarcity of land and suitable development sites available for large-scale warehouse and distribution product, this strategically-located tract presents a tremendous opportunity to continue our e-commerce and industrial building program in the Mid-Atlantic region,” explained Jim Lighthizer, SIOR, CCIM, Owner and Managing Partner of Chesapeake Real Estate Group. “Demand for product type in the Baltimore-Washington, D.C. area remains brisk, as end-users are attracted to the demographics of this region, as well as the ability to access approximately 50% of the nation’s population within a one day drive. This site, with immediate proximity to the Port of Baltimore and Baltimore-Washington International Airport, as well as access to major transportation arteries, is perfectly positioned for our targeted use.”

“There is an insatiable demand for warehouse/distribution product nationally, but especially around large population centers as companies strive to keep pace with the demand for next-day or same-day delivery expectations,” company Partner Matt Laraway added. “We continue to detect an enormous appetite for Class A space so finding suitable land to develop product remains a high priority for us.”

The land is located within the Brandon Wood Business Park, a business community originally developed by Constellation Real Estate, the real estate subsidiary of BGE. Sites were developed and leased to companies with large distribution and warehouse requirements including Reliable Churchill, Fila USA and Under Armour.

Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland, is a full-service commercial real estate operating company that includes development, property management and brokerage services. The firm currently owns and operates nearly twenty-five office, industrial and/or retail projects in the Mid-Atlantic region and has more than three million square feet of industrial projects planned for development in the Mid-Atlantic region. Notable projects include Baltimore Crossroads in Baltimore County; Perryman Logistics Center in Harford County; Port 95 Industrial Park in Baltimore City; and Penn 95 in Prince George’s County. For more information visit www.cregllc.com