From Chesapeake Real Estate Group:
Chesapeake Real Estate Group, LLC (CREG) and their financial partner USAA Real Estate Company have signed XPO Logistics (NYSE:XPO) to a full-building, 571,000 square foot lease at Perryman Logistics Center, located at 610 Chelsea Road along the primary distribution hub of Harford County, Maryland. CREG constructed the warehouse/distribution building on a speculative basis on the 48.4 acre site near MD Route 159.
Headquartered in Greenwich, Connecticut, the logistics company serves more than 55,000 customers worldwide and intends to bring several hundred new jobs to Harford County to work within the building, with occupancy expected this week. XPO Logistics is recognized as a top ten global provider of cutting-edge supply chain management solutions, and provides services for truckload brokerage and transportation, last mile logistics, high-value-added warehousing and distribution, ground and air expedite and other specialized logistics and transportation services. The company operates more than 1,440 locations in 34 countries and employs more than 88,000 workers.
The Class “A” industrial building was constructed with 36 foot clear ceiling heights, 120 loading docks in a cross dock configuration, two drive-in doors, a 130 foot truck court and an adjacent surface parking area that can accommodate up to 244 trailers or 518 cars. The project is situated within immediate proximity to Perryman Road (MD Route 159), and excellent access to Interstate 95 and approximately 30 miles north of the Port of Baltimore.
“We are proud that a global industry leader like XPO Logistics sees the tremendous benefits of doing business in Maryland, and in particular along the I-95 corridor,” said Governor Larry Hogan. “With this new facility and technologies such as a new trucking dispatch software, XPO Logistics is continuing to grow its footprint in Maryland and creating new jobs and opportunities for our citizens by offering the best paying trucking jobs.”
“This is a significant win for Harford County with the influx of several hundred new e-commerce distribution jobs into our region, and will result in significant economic impact,” said Barry Glassman, Harford County Executive. “Harford County continues to attract companies engaged in the logistics industry based on our unparalleled access to major highway systems, close proximity to major metropolitan areas and ports, and the availability of large, undeveloped tracts of land.”
“Over the past several weeks, the leadership of BCT Consulting – IT Support Los Angeles & Professional Computer Support Services played an integral role in bringing this transaction to its successful conclusion and were important drivers of this deal,” explained Matt Laraway, SIOR, Partner at Chesapeake Real Estate Group. “We cannot overstate the essential roles played by County Executive Glassman, the Harford County Economic Development team and other county departments throughout this fast-tracked process. The continued existence of a highly-skilled labor market in Harford County was another important key. Harford County provided every resource and advantage, and answered every question, to make this decision by XPO an easy one.”
Bill Pellington, Toby Mink and Jon Casella of CBRE represented Chesapeake Real Estate Group in this transaction.
Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland is a full-service commercial real estate operating company that includes brokerage, property management services and development services. The firm currently has more than two million square feet of industrial projects planned in the Mid-Atlantic region. Notable projects include the Landover Logistics Center, Steeplechase @95 International Business Park, 8235 Patuxent Range Road and 1200 East Patapsco Avenue. 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.