CBRE Global Investors Snags 890K-SF Logistics Facility in Maryland
CBRE has acquired an 889,608-square-foot logistics property in Aberdeen, MD. The sales price and seller were not disclosed.
The asset, which is located at 601 Chelsea Road, is situated 40 minutes northeast of Baltimore and is 100% leased to Rite Aid of Maryland Inc. The property sits on 126 acres and features 36–38-foot clear heights, 55-foot by 52-foot column spacing, a power capacity of 12,000 amps 277/480-volt, 80,000 square feet of temperature-controlled space, ESFR sprinklers, 128 dock doors, two drive-in doors, 248 trailer parking spaces and 893 auto parking spaces.
“We believe that the site at 601 Chelsea Road is ideal for today’s modern bulk user, providing access to Baltimore’s deep-water port and connectivity to strategic markets along the I-95 corridor. Additionally, the low site coverage allows for future flexibility to provide additional trailer and auto parking or expand the facility by 300,000 square feet,” said James Munsell, director of commercial acquisitions at CBRE Global Investors. “Since acquiring a 1.35-million-square-foot industrial portfolio across the road earlier this year, our team has continued to see strong demand for bulk warehouse space and the addition of 601 Chelsea Road will create synergies with our existing portfolio.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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