October 6, 2025
Chesapeake Real Estate Group Breaks Ground for 170,000 SF Industrial Distribution Facility
Class “A” asset, situated in Havre de Grace sub-market of Harford County, Maryland, being developed in partnership with Sagard Real Estate and will be delivered March 2026
Chesapeake Real Estate Group (CREG), in partnership with Sagard Real Estate, recently initiated development activities on a new Class “A” 170,000 square foot industrial distribution facility in the Havre de Grace submarket of Harford County, Maryland. The speculative building situated at 1621 Clark Road is expected to be delivered in March 2026. The Baltimore CBRE Industrial and Logistics team is overseeing marketing and leasing for the project.
“Market conditions support this best-in-class industrial space in one of the most dynamic logistics markets in the country, and we have full confidence in our ability to quickly attract end-users to this strategically-located site,” stated Jim Lighthizer, President of CREG.
“Harford County continues to attract significant demand given its proximity to critical infrastructure, major population centers, and the availability of top workplace talent. The extremely limited pipeline of future industrial development, and the relative difficulty in acquiring and entitling shovel-ready sites in the state, are significant factors that position 1621 Clark Road for success.”
The project has been engineered with multiple institutional-grade specifications to match the modern-day requirements of end-users, including 36-foot clear ceiling heights; 180-foot truck court; 37 dock-high loading positions; 51 trailer drops; 122 vehicle parking spaces; and a 2,500 square-foot speculative office suite.
“CREG has demonstrated its ability to successfully develop and lease institutional-quality Class A warehouse/industrial facilities over an extended period of time,” stated Tyler Williams, Co-Portfolio Manager for the fund at Sagard Real Estate. “We value CREG’s experience and strong relationships that are vital in the success of a project of this kind. Harford County’s access to infrastructure and population centers, together with a historically-low vacancy rate for similar product, make it a compelling submarket for industrial investment.”
Research provided by CBRE suggests an overall industrial/warehouse vacancy rate in Harford/Cecil County of 6.8 percent for Q3 2025. For properties 250,000 square feet or smaller, the vacancy rate drops to 4.9 percent.
“This vacancy data is a strong indicator of market strength in this section of Maryland,” Williams added.
Located approximately 40 miles north of the Port of Baltimore and less than five miles from I-95, the site provides direct access to the Mid-Atlantic’s major logistics corridors. Its central location allows companies to reach more than 120 million people – roughly 35 percent of the U.S. population – within a 10-hour drive, making it an ideal hub for regional distribution and e-commerce operations. The property also offers convenient proximity to major East Coast cities with its position approximately 70 miles from Philadelphia, 750 miles from Washington, D.C. and 310 miles from New York City.
“1621 Clark Road represents our third industrial ground-up development project with Sagard Real Estate, totaling more than 1.4 million square feet of space, and $170 million of invested capital,” added CREG Vice President Whit MacCuaig. “Sagard has been an ideal partner as we continue to expand our footprint of high-quality, purpose-built assets in supply-constrained markets. This project is a long-term investment in the region’s growth and a valuable addition to our expanding industrial development portfolio.”
CBRE’s Executive Vice Presidents Toby Mink and Jon Casella, together with Matt Laraway, Senior Vice President, are handling this marketing and leasing assignment.
