BALTIMORE, MD–Chesapeake Real Estate Group has acquired 259 acres of land near Fort Smallwood Road in Anne Arundel County from Exelon Corp., on a site called Brandon Woods III. It plans to begin speculatively developing up to one million square feet of industrial and warehouse space across two buildings that can serve as companies' last mile distribution point.
The approximate 500,000 square foot facilities will be developed for about $35 million each, a spokesperson tells GlobeSt.com.
David Baird of Cushman & Wakefield represented the seller in this transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
