Industrial & Logistics

Chesapeake Logistics Center

1301 Chesapeake Ave Baltimore, Maryland United States 21226-1007
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 2004
Building Area
Land Area ()

Property Description

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.

Investment Highlights

  • 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
Last Updated Date: 16 Jul 2021
Bill Prutting
Bill Prutting
Senior Managing Director, Capital Markets
License details
SP93522 (DC) 225018944 (VA) 28015 (MD)
Jay Wellschlager
Jay Wellschlager
Managing Director, Capital Markets

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Last Updated Date: 16 Jul 2021

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