At full build-out the Chesapeake Commerce Center will reach 2.5 million square feet, Macsherry says. Already, the park--located adjacent to I-95, I-895, and the Port of Baltimore--has 460,000 square feet constructed and leased. Duke delivered on spec two buildings on the site in March 2008--a 117,600-square-foot office/warehouse building and a 342,000-square-foot, cross-dock distribution center--both of which are now fully leased.
In July 2008, Duke sold 13 acres to Hoffberger Holdings, on behalf of its business, Merchants Terminal Corp., a company that specializes in temperature-controlled logistics solutions. The company is building a 12-million-cubic-foot food distribution center on the site.
There are some 133 acres remaining in the park for future development, which Duke is marketing to a range of users, Macsherry says. The uses could be anything from office to more warehouse, he says. As industrial activity continues to pick up in Baltimore, "there will be more companies seeking space close to the port."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
