Approximately 20 percent of speculative project, located at 11501 Pocomoke Court, leased by Carpet Consultants
Chesapeake Real Estate Group, LLC, a full-service commercial real estate operating company based in Baltimore, has announced the initiation of construction on a speculative 100,685 square foot warehouse and distribution building located in the Baltimore Crossroads @95 business community near the White Marsh section of Baltimore County. Last week, Chesapeake Real Estate Group broke ground on a 571,000 square foot speculative warehouse and distribution building in Harford County, Maryland. This latest project, located at 11501 Pocomoke Court, is expected to be completed in first quarter 2015.
Carpet Consultants, a provider of residential and commercial flooring products, has signed a lease with Chesapeake Real Estate Group for approximately 18,000 square feet of space or 20 percent of the building. The company, which markets a full range of products including carpeting, hardwood, laminate, tile and stone, intends to relocate its entire operations to Baltimore Crossroads upon completion of the project.
The Class “A” industrial building will feature 28 foot clear ceiling heights, 21 rear loading docks and two drive-in doors, a 125 foot truck court and an adjacent surface parking area that can accommodate more than 125 vehicles. The project is situated within immediate proximity to MD Route 43 and is less than three miles from Interstate 95, approximately 12 miles from the Port of Baltimore and 22 miles from Baltimore-Washington International Airport.
Baltimore Crossroads @95 is a 1,000-acre mixed-use business community configured to support more than six million square feet of Class “A” commercial office, R&D/flex, warehouse and industrial and retail space, as well as residential components that include a luxury apartment complex, condominiums, townhomes and single-family homes. This latest warehouse and distribution building represents Chesapeake Real Estate Group’s sixth within the business community, with more than 700,000 square feet of space currently existing. Representative tenants include BGE Home and Reliable Churchill. Upon full build-out, approximately 10,000 people are expected to work and live in Baltimore Crossroads @95.
“End-users of warehouse and distribution space have responded extremely well to our product offering at Baltimore Crossroads @95 and, based on the strong pipeline of potential tenants we see in the marketplace, our team is extremely comfortable proceeding with this latest large-scale project,” explained Jim Lighthizer, Founder and Owner of Chesapeake Real Estate Group. “We are especially encouraged about the demand in this section of Baltimore County, based on the pre-leasing of approximately one-fifth of the building. Companies with large distribution and warehouse space requirements are enamored with the Baltimore region based on the existence of quality and abundant labor, and the close proximity to a major port. Constructing 11501 Pocomoke Court keeps us ahead of expected demand.”
Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland is a full-service commercial real estate operating company that includes brokerage, property management and development services. The firm currently has more than two million square feet of industrial projects planned in the Mid-Atlantic region. Notable projects include the Landover Logistics Center, Steeplechase @95 International Business Park, 8235 Patuxent Range Road and 1200 East Patapsco Avenue. For more information visit www.cregllc.com
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