HALETHORPE, MD—AEW Capital Management isdeveloping a 285,000-square foot industrialdistribution facility on behalf of one of its institutional clientshere. The company acquired the site, located at 4803Hollins Ferry Rd., last month. It also acquired4801 Hollins Ferry Rd., a 279,016 square foot,industrial building fully leased to FedEx, Forward Air and GlobalExperience Specialists. 4803 Hollins Ferry Rd. is located on a17.23-acre development site approved for an approximately 300,000square foot distribution center.
Hollins Ferry Logistics Center is scheduled to break ground byQ4 2014 and deliver in 2015. Redgate CapitalPartners will be the development manager for the projectand Cassidy Turley's Jarred Testa andTilghman Herring will be the leasing agents.
Testa says the center will be a state-of-the-art industrialbuilding with a high dock door ratio, above-market average trailerstorage, ESFR sprinkler and 32' clear ceilings. “This property isalso located in an Enterprise Zone," he says in a preparedstatement, which will mean lower real estate taxes and tenantincome tax credits.
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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.
