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Jones Lang LaSalle, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for the sale of Chesapeake Logistics Center (the “Property”), a Class A industrial facility, totaling 190,000 square feet, plus 7+ acres of paved parking area, in the heart of Baltimore. The Property is strategically located in one of the most accessible and highly sought-after locations in the greater Baltimore industrial market, with immediate proximity to I-895 (2 minute drive), offering incredible regional access to other major highways such as I-95, I-97, and the Baltimore Beltway (I-695). The Property is just a 10-minute drive to downtown Baltimore and 45-minute drive from Downtown Washington D.C., providing users easy access to two of the largest population bases in the United States.
The Property is 100% leased to 2 tenants with a combined weighted average remaining lease term of 0.5 years. Additionally, there is approximately 7 acres of additional land adjacent to the property currently used for fleet parking, with additional income attributed to the use. The near-term rollover
offers near term cash flow, and an embedded mark-to-market opportunity to increase both warehouse and parking rents, allowing investors immediate NOI growth potential.
Chesapeake Logistics Center was constructed in 2004, and features 30’ clear heights, 26 dock doors, 2 drive in doors, T-5 warehouse lighting, and 51 trailers stalls (excluding the additional 7-acre lot). Accordingly, this investment offering represents a coveted opportunity to acquire an institutional
quality industrial warehouse with supplemental lot revenue, in a core location proximate to major highways and the Port of Baltimore.
- 100% leased, class A institutional quality industrial facility
- Rare +/- 7 acres of fenced, paved parking, which can unlock additional value from near term parking income or long term future industrial development
- Near term embedded mark-to-market upside; In-place tenant warehouse and parking rents combined, are approximately 27% below market
- Immediate proximity to the Port of Baltimore
- Strategic industrial location - incredible highway and airport (BWI) access
- Located within the highly sought after Mid-Atlantic Industrial Market
- Highly populated national/regional distribution hub with high spending power; over 45 million households reachable within 1 day drive