Chesapeake Real Estate Group (CREG) has announced a new long-term investment platform, expanding its focus to include acquiring industrial, flex/office, single-story commercial office, and retail assets. Gene Parker has been appointed as president, while Jim Lighthizer transitioned to Chief Executive Officer.  

Over the next five years, CREG aims to grow its portfolio in the Mid-Atlantic region, targeting acquisitions between $3 million and $20 million with an emphasis on value-add properties. The group has formed a joint venture with Rick Wuest, CEO of Thompson Creek Window Company, and has already acquired three properties totaling over $20 million.  

“CREG is highly differentiated by ready access to internal capital, with an unlimited investment horizon and certainty to close. CREG intends to target properties at price points which do not typically attract institutional capital, which will allow the firm to be the buyer of choice in most instances,” said Parker. The company’s portfolio includes projects like Nottingham Logistics Center and Baltimore Crossroads @95.