Chesapeake Real Estate Group Leases The Johns Hopkins Health System Corp. 165,000 SF of Space At Port 95 Industrial Park in Baltimore City

8/28/17

Space within 413,000 square foot building at 5300 Holabird Avenue in Baltimore City to function as warehouse and logistics operation serving numerous Johns Hopkins entities

Chesapeake Real Estate Group, LLC (CREG) has leased the Johns Hopkins Health System 165,000 square feet of space within the Port 95 Industrial Park in Baltimore City, according to Matt Laraway, Partner at CREG. Together with investment partner USAA Real Estate Company, Chesapeake Real Estate Group is developing the former multi-building Sun Products facility into a business community that can support more than one million square feet of modern warehouse and industrial space. Conewago Enterprises, Inc. is serving as the general contractor for the building.

Johns Hopkins Health System intends to occupy approximately 40% of 5300 Holabird Avenue, a 413,000 square foot industrial building that is currently under construction, with delivery expected to occur in October. Featuring abundant parking, a cross-dock design, the structure is equipped with 36’ ceilings, 79 dock doors and two drive-in dock doors. The truck court depth, measuring 130 feet, allows for greater maneuverability and better accommodates multiple trucks accessing the building.

The leased space will be utilized to support the warehouse and logistics requirements for a number of Johns Hopkins Health System entities currently contained within the Baltimore metropolitan region.

"Johns Hopkins University's move to Port 95 is yet another indication of the success of the Holabird/Broening Highway corridors in attracting a variety of companies seeking industrial space," said William H. Cole, president & CEO of the Baltimore Development Corporation. "We've seen ongoing demand for industrial space, and Holabird corridor's accessibility via highway, port and air continues to attract companies like Amazon, Blueprint Robotics, and now Johns Hopkins."

“5300 Holabird Avenue satisfied each important real estate requirement necessitated by Johns Hopkins, and attracting a tenant of this high quality and pedigree represents the perfect way to kick off and anchor Port 95 Industrial Park,” stated Matt Laraway, Partner at Chesapeake Real Estate Group. “Interest remains strong as this business community is perfectly positioned to seize emerging real estate needs that continue to surface in the marketplace, led by the site’s direct proximity to major transportation axes. Our development and leasing program remains on schedule to be completed by 2018.

Shortly after purchasing the former Sun Products site in spring 2015, CREG and USAA engaged in a comprehensive repositioning of the 47-acre business community which, to-date, has consisted of the demolition of five separate buildings to pave way for new construction including the upgrade of a 500,000 square foot building, and. Located at 5250 Holabird Avenue, this structure was acquired by EverWest Real Estate Partners, a Denver-based real estate investment and operating company, earlier this year.

Port 95 Industrial Park is situated directly adjacent to Interstates 95 and 895 and is within one mile from the Port of Baltimore. MD Route 40 is approximately three miles away and Baltimore-Washington International Airport can be accessed in approximately ten minutes.

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 under construction in the Mid-Atlantic region. Notable projects include Penn 95 in Prince George’s County, Baltimore Crossroads in White Marsh, and Perryman Logistics Center in Harford County. For more information visit www.cregllc.com

USAA Real Estate Company is a San Antonio, Texas-based company that currently controls more than $12 billion in assets including office and medical office buildings, industrial projects, multi-family, retail and hotel properties. The company provides co-investment asset management services to U.S. pension funds, as well as to foreign and institutional investors.

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