New owner plans $1 million renovation of building and re-activation of two dormant companies BALTIMORE, MD (November 10, 2014) – NAI KLNB has brokered the sale of 3400 E. Biddle Street in the Orangeville Industrial Area of Baltimore City to Chesapeake Plywood for $3 million.
The new owner plans to relocate Chesapeake Plywood and Chesapeake Custom Milling Services to the 157,000 square foot building, as well as re-activate two dormant companies — Chesapeake Warehousing, LLC and Chesapeake Wood Express — to operate within the project. The four companies are expected to nearly double its collective workforce to more than 35 employees upon completion of more than $1 million in building renovations. Alan Coppola of NAI KLNB represented the buyer and Justin Mohler of CBRE represented the seller, Miller Investments, in this transaction.
Founded in 2001 by John Emden, Chesapeake Plywood previously operated in approximately 50,000 square feet of space at 1700 Ridgely Street in Baltimore. The company markets a complete section of hardwood plywood, pre-finished hardwood, particleboard and architectural panels to industries including homebuilding, furniture and crating sectors. A second entity, Chesapeake Custom Milling Services, which produces specialty-cut wood products, will also be housed within the 3400 E. Biddle Street.
“Our operations have acquired large machinery over the past several years, and we have stored this equipment on the adjacent parking lot at our former location,” explained John Emden, President of Chesapeake Plywood. “Rapid expansion necessitated the need to find an enlarged space to accommodate this growth and fuel the continued momentum of our companies.”
“3400 E. Biddle Street represented the perfect solution for Chesapeake Plywood on multiple levels,” explained Alan Coppola of NAI KLNB. “This new location is within close proximity to the Port of Baltimore, which lowers expenses and expedites delivery. Purchasing the building places the company in an equity position, rather than paying monthly rent. And, the added space enables them to re-establish two former companies that previously operated.”
The re-activated companies include Chesapeake Warehousing, which offers public warehouse space for wood-related customers, as well as Chesapeake Wood Express Trucking, a logistics company to utilize 157,000 square feet of space in Orangeville Industrial Area. “It is more efficient and smarter to re-establish these two companies, rather than look for other entities to lease the surplus space,” Emden said. “Situated on more than seven acres of land, we have the necessary surface parking to accommodate the large trucks used for shipping.”
Chesapeake Plywood expects to immediately move forward with a $1 million improvement and renovation program at the building. Activities will include revitalizing the office space, replacing the ceilings, installing new doors and ramps and performing concrete work. In addition, the new owner intends to construct a new cafeteria and athletic/fitness room.
Founded in 1968, KLNB, LLC is comprised of two real estate divisions of companies that include NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties as well as tenant representation. The company is also a full-service provider of commercial real estate property and east management services. Headquartered in Towson, MD, the company maintains full-service offices in Columbia, MD; Washington, D.C; as well as Tysons Corner and Dulles Airport area in Loudoun County, Virginia. Visit www.klnb.com.
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