COLUMBIA, MD—MCA Assateague JV LLC has acquired the 60-acre Baltimore Washington Logistics Center for an undisclosed sum.

The buyer is a joint venture between Boston-based AEW Capital Management and local company Manekin LLC. AEW acquired the property on behalf of one of its separate account clients.

Manekin LLC's Owen Rouse and John Graham represented the ownership group in the deal. Cris Abramson and Brian Kruger with Cushman & Wakefield represented the seller.

The 730,000-square-foot Baltimore Washington Logistics Center was built in phases from 1972 to 1974 as the main distribution facility of Giant Food, a Maryland-based regional grocery chain that was acquired by Royal Ahold in 1998. The center became surplus property by Giant /Ahold in 2013. At that point it was acquired by the current seller Madison-SP Assateague LLC, a venture between New York Life Real Estate Investors and a local operator Mosaic Realty Partners.

The new owners plan to expand the building by 120,000 square feet as well as speculatively develop an additional 160,000-square foot industrial building on the site. There will be more than 1 million square feet available to lease when the expansion is complete, as well as space to accommodate 400 trailer parking spaces – one of the largest in the area, according to Manekin.

Besides the complex's capacity, "the size, location and logistical capacity are the elements of the property that make this investment a great opportunity," Rouse tells GlobeSt.com. "It is the absolute bullseye between Baltimore and Washington DC."

Michael Elardo, Jared Ross and Michael Kimmel out of Cushman & Wakefield's Baltimore office are handling the leasing for Baltimore Washington Logistics Center.