Original story below…
NOTTINGHAM, MD – A joint venture between Atapco Properties and Chesapeake Real Estate Group (CREG) has kicked off construction on a pair of industrial buildings totaling more than 750,000 square feet in Nottingham.
The partners acquired the 52-acre site last year and have started marketing and leasing on the project – Nottingham Ridge Logistics Center – which is scheduled for completion in the first quarter of 2020.
Atapco will lead the development and construction effort for the two properties, located at 5300 and 5301 Nottingham Drive. The Class A warehouse/industrial facilities will measure 585,000 square feet and 165,000 square feet and will feature clear ceiling heights of 36 feet and 32 feet, respectively. Both buildings will allow for drive-in and dock door loading.
CREG will oversee the marketing and leasing for the project, which is adjacent to Interstate 95. Located near Exit 67, the site was formerly zoned for a 100-store outlet mall until the developer, Paragon Outlet Partners, scrapped the retail plan and sold off the parcel.
“We are proceeding with construction because we are confident in the warehouse/industrial market for sites with immediate access to the I-95,” commented Armin Groeschel, vice president of development for Atapco Properties in a prepared statement. “The continuing demand for the same-day or next-day delivery is the most significant driver for new Class A logistics centers with close proximity to major population centers.
Atapco Properties, a subsidiary of American Trading and Production Corp., develops a wide range of real estate assets across the U.S. The company has worked with CREG on multiple business parks and industrial projects in the past, including in Greencastle, Pa., and in Jessup, Md.
CREG specializes in buying and developing industrial projects in the Baltimore-Washington metro area. Last November, the company broke ground on another two-building industrial site, further to the east of Baltimore, on behalf of TA Realty. The site spans 350,000 square feet of warehouse space within the Trimble Road Business Park in Edgewood, Md.