EDGEWOOD, MD–Chesapeake Real Estate Group has acquired 101 acres of land here from Prologis for an undisclosed price. The parcel, located near the intersection of Trimble Road and Emmorton Road, is suitable to build industrial/warehouse buildings totaling up to 400,000 square feet.
Now the company is investigating its options and timing for this site, says Matt Laraway, partner at Chesapeake Real Estate Group. “Our company has been extremely successful in the development and leasing of speculative warehouse and industrial product in Maryland and Pennsylvania by anticipating demand,” he says in a prepared statement.
Chesapeake Real Estate Group leased more than 1.2 million square feet in 2016. Laraway says that fundamentals indicate demand for industrial will continue to be strong this year. “This site is perfectly positioned to satisfy continued industrial demand and we expect to start site improvements early in 2017,” he says.
Other major tenants located in the park are Kohls Department Stores, which has one million square feet and AGCO at 105,000 square feet.
EDGEWOOD, MD–Chesapeake Real Estate Group has acquired 101 acres of land here from
Now the company is investigating its options and timing for this site, says Matt Laraway, partner at Chesapeake Real Estate Group. “Our company has been extremely successful in the development and leasing of speculative warehouse and industrial product in Maryland and Pennsylvania by anticipating demand,” he says in a prepared statement.
Chesapeake Real Estate Group leased more than 1.2 million square feet in 2016. Laraway says that fundamentals indicate demand for industrial will continue to be strong this year. “This site is perfectly positioned to satisfy continued industrial demand and we expect to start site improvements early in 2017,” he says.
Other major tenants located in the park are
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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.
