Development Portfolio

8100 Penn Randall Pl - TCW 05.17

Penn 95 Commerce Center

Size: 284,500 SF
Address: 8100-8210 Penn Randall Place
Upper Marlboro, MD, 20773
Prince George’s County, MD
Delivery: 2017

Penn 95 Commerce Center – Is a redevelopment project of the former 160,000 square foot Murry’s Steaks distribution/grocery at 8300 Pennsylvania Ave, a shuttered and antiquated industrial property, which posed many development and construction hurdles. The original HAZMAT condition positioned CREG as the first developer in Maryland to use EPA approved foam shield to safely demolish and dispose of large size asbestos containing materials. Not to mention the need to overcome capacity issues at the WSSC waste treatment facility and MIOZ (Military Installation Overlay Zone) zoning issues with Andrews Joint Base. The project soon took shape into a 117,000 square foot Class A manufacturing facility for Thompson Creek Window Company. Thompson Creek had started to outgrow their facility on Brightseat Rd and was looking in Maryland, Virginia and North Carolina to construct a new window and door manufacturing facility to accommodate its future growth as one of the Mid-Atlantic fastest growing window and door manufacturers. An additional speculative 167,500 square foot Class A office/warehouse facility followed shortly thereafter, signing Brook Furniture Rental to a 66,000 square foot lease in the second new building at Penn 95 Commerce Center.


Perryman Logistics-Aberdeen MD (81)

Perryman Logistics Center

Size: 571,000 SF
Address: 610 Chelsea Rd
Aberdeen, MD, 21001
Harford County, MD
Delivery: 2016

Perryman Logistics Center – Chesapeake Real Estate Group and financial partner USAA Real Estate Co. purchased the 48.4-acre site at 610 Chelsea Road and broke ground in August 2014. The idea for the warehouse in Aberdeen came as CREG Owner, Jim Lighthizer, began receiving inquiries from potential industrial tenants as he was planning the development of Reliable Churchill’s 449,000-square-foot warehouse at Crossroads @95 industrial park. The 571,000-square-foot speculative warehouse in Harford County, was billed as the largest Class A distribution site on the market in Maryland at that time. The project is situated within immediate proximity to Perryman Road (MD Route 159), and excellent access to Interstate 95 and approximately 30 miles north of the Port of Baltimore.

The Perryman Logistics Center is a Class “A” industrial building, being constructed with 36-foot clear ceiling heights, 120 loading docks in a cross dock configuration, two drive-in doors, a 130-foot truck court and an adjacent surface parking area that can accommodate up to 244 trailers or 518 cars. Interest in Perryman Logistics Center among end-users was very encouraging, as a number of sectors continued to specify the greater Baltimore metropolitan region for e-commerce and other large-scale traditional distribution and warehouse requirements. The project was a perfect fit for the new tenant, XPO Logistics (NYSE: XPO), signing a full building lease along the primary distribution hub of Harford County, MD in October 2016. “This is a significant win for Harford County with the influx of several hundred new e-commerce distribution jobs into our region, and will result in significant economic impact,” said Barry Glassman, Harford County Executive. “Harford County continues to attract companies engaged in the logistics industry based on our unparalleled access to major highway systems, close proximity to major metropolitan areas and ports, and the availability of large, undeveloped tracts of land.”


Baltimore Crossroads 95 PARK 05.17 rev

Baltimore Crossroads @95

Size: 1,336,355 SF
Address: RT 43
White Marsh, MD 21220
Baltimore County, MD
Delivery: 2004 – 2016

Baltimore Crossroads @95 – The master-planned, 1200-acre mixed-use community is positioned in the White Marsh section of Baltimore County. Activity was initially spurred by the completion of MD Route 43, a road Congressman Dutch Ruppersberger termed an “economic engine” because it connected Interstate 95 to Eastern Boulevard at Martin State Airport. Over the past ten years, but especially within the past two, the CREG/Prudential team has been the most active and successful developers in the on-going build-out and leasing of its 239 acres and, in total, has constructed eight buildings comprising more than 1.3 million square feet of space. Development has particularly accelerated within the past year with the construction of separate 435,000 and 100,000 square foot warehouses, as well as a 140,000 square foot build-to-suit building for American Tire Distributors. CREG has played a significant role in transforming this once land-locked Greenfield development into an important employment center that sustains nearly 1000 workers including three headquarters operations. Baltimore Crossroads@95 was recognized in 2016 by NAIOP Maryland in the “Best Industrial Park” category.


8235 Patuxent Range Rd 05.17

Baltimore Washington Industrial Park

Size: 241,457 SF
Address: 8235 Patuxent Range Road
Jessup, MD 20794
Howard County, MD
Delivery: 2014

Chesapeake Real Estate Group, LLC partnered with Atapco Properties on this build-to-suit “spec” 241,457 square foot development project. The construction project was a re-development of an Owens Corning asphalt shingle manufacturing plant. Together Chesapeake Real Estate Group and Atapco Properties worked to convert a brown field project into a Class A, Cross-dock, state-of- the art modern distribution facility. The warehouse facility with all the modern features logistics tenants look for in distribution centers offers 32-foot ceilings, an 8,500-square-foot structural mezzanine that boosts the storage space and 75 docks. It also has the benefit of being located near Route 32 and Interstate 95 in a location that is equidistant from Baltimore and Washington.

Feld Entertainment, the company that produces such shows as Ringling Bros. and Barnum & Bailey Circus, Disney on Ice and Monster Jam, and uses the warehouse to store merchandise among other assets, leased 80 percent of the building consolidating their two existing operations in Jessup into a single national distribution facility that will accommodate long and short-term growth, and provide increased operating efficiency for the company. Shortly after being leased to Feld Entertainment, the property was acquired by Principal Real Estate Investors of Des Moines, Iowa, for $26.7 million. “For us, it was a question of do we hold or sell, and we were thinking long and hard about keeping it,” Lighthizer said. “I just think that we would probably be better off reinvesting these dollars instead of holding it because it was a relatively low return on cost. The thought was, capitalize on a good market,” Lighthizer added, referring to the brisk industrial sales taking place throughout the region.


Landover Logistics Center 05.17

Landover Logistics Center

 

Size: 360,550 SF
Address: 1811 Cabin Branch Drive
Landover, MD 20785
Prince George’s County, MD
Delivery: 2013

Landover Logistics Center – The 360,550 square foot speculative industrial warehouse building located at 1811 Cabin Branch Road in Landover, MD was delivered to the Prince George’s County market in October 2013. With the help of The Carlyle Group and Oakmont Industrial in a joint venture, Chesapeake Real Estate Group, LLC redeveloped this location from an antiquated former refrigerator/freezer operation into a Class A – Cross Dock Distribution facility. Landover Logistics Center is a 32’ clear building with 95 dock doors to accommodate the latest logistics operations. Also included in the transaction was a bonus of over 70 trailer parking spaces on site and an additional 5 acres of raw land. This acreage was presented to either be developed into a 70,000 SF warehouse or an additional 110 trailer parking spaces. Landover Logistics offers immediate access to downtown Washington, DC and the MD/VA region. New tenants to Landover Logistics Center can also take advantage of Focus Area Enterprise Zone benefits which allow for reductions in both property and personal property taxes. CREG would like to give special thanks to Morgan-Keller Construction, SAA Architecture, Ben Dyer & Associates – Civil Engineer and CBRE who represented ownership in this sale.