Chesapeake Real Estate Group has picked up approximately 259 acres of land near Fort Smallwood Road in Anne Arundel County from Exelon Corporation. The site, known as Brandon Woods III, is located within the Brandon Wood Business Park, originally developed by Constellation Real Estate, a real estate subsidiary of BGE. In a joint venture with EverWest Real Estate Partners, CREG plans to develop up to one million square feet of industrial and warehouse space. Construction of Phase I, a 500,000 square foot speculative industrial building, will begin immediately on a speculative basis. Notable tenants in the park include Reliable Churchill, Fila USA and Under Armour. David Baird of Cushman & Wakefield represented the seller in this transaction.undel
“With the scarcity of land and suitable development sites available for large-scale warehouse and distribution product, this strategically-located tract presents a tremendous opportunity to continue our e-commerce and industrial building program in the Mid-Atlantic region,” explained Jim Lighthizer, owner and managing partner of Chesapeake Real Estate Group. “Demand for this product type in the Baltimore-Washington, D.C. area remains brisk, as end-users are attracted to the demographics of this region, as well as the ability to access approximately 50 percent of the nation’s population within a one day drive.”
