The land parcel was sold to Hoffberger Holdings, on behalf of its business, Merchants Terminal Corp., a company that specializes in temperature-controlled logistics solutions. Hoffberge acquired the parcel for an undisclosed price. It plans to build a 12 million cubic foot food distribution center on the site. Michael Royce formerly of Cushman Wakefield represented Merchants Terminal Corp. in the transaction. As of now publication date, Royce is now heading Mid-Atlantic Industrial for Jones Lang LaSalle.
[IMGCAP(2)]This building will be the first on CCC that is not owned or operated by Duke, a spokesman for the company tells GlobeSt.com. He declined to provide the purchase price for the land. Hoffberger did not return calls in time for deadline.
Eventually, CCC will be built out to 2.8 million sf, he says. The park is located on a former General Motors property that Duke has since demolished and remediated. It plans to attract a wide range of client uses to the site, the spokesman says. With the 13-acre land disposition to Hoffberger complete, Duke has 149 acres remaining in the park for future development.
[IMGCAP(3)]Served by two railroads, CCC is located adjacent to I-95, I-895, and the Port of Baltimore. Duke has recently completed two buildings on the site, an 117,600-sf office warehouse building that is 50% leased to Johns Hopkins Home Care Group, and a 342,000 plus-sf cross-dock distribution center, which is still available for lease, the spokesperson says.
The facility Hoffberger plans to build will exceed 12 million cubic feet and offer approximately 32,000-racked pallet positions. ARCO Design/Build of Atlanta has been contracted to design and construct Phase I of the facility, which encompasses 6.1 million cubic feet of temperature controlled space with 16,300 specialized rack positions.
Merchants' Vice President F. Brooks Royster III will manage the construction of the new facility and international sales. The strategic position within the Chesapeake Commerce Center--immediately adjacent to the Seargirt Marine Terminal--will allow the company to continue to expand its international service offering, Royster says in a prepared statement.
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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.
