JV Plans Mixed-Use Industrial Project In White Marsh
A joint venture between Atapco Properties and Chesapeake Real Estate Group acquired the 52-acre parcel from Paragon Outlets Baltimore.
BALTIMORE–A joint venture partnership between Atapco Properties and Chesapeake Real Estate Group has acquired a 52-acre parcel of land in the White Marsh submarket and plans to develop a mixed-use project that may include industrial, retail and office properties. The parcel, which has 2,000 square feet of frontage along Interstate 95, was purchased from Paragon Outlets Baltimore, which had at one time proposed to build a 525,000-square foot retail outlet shopping center there.
Now the project team for Atapco Properties and Chesapeake Real Estate Group is working on concept plans and expects to make more details on the project will be available soon.
“This site is shovel-ready and we intend to leverage the existing pent-up demand for strategically-located office/warehouse and e-commerce space along the Interstate 95 corridor,” Jim Lighthizer, founder and Owner of Chesapeake Real Estate Group, said in a prepared statement.
Chesapeake Real Estate Group and Atapco Properties have completed a number of projects together including Antrim Commons Business Park in Pennsylvania and the Patuxent Range Road in the Baltimore Washington Industrial Park in Maryland.