CBRE Global Investors Acquires 890,000-Square-Foot Logistics Asset in Maryland

A fund sponsored by CBRE Global Investors has acquired an 889,608-square-foot bulk logistics property in Aberdeen, Md. The asset, located at 601 Chelsea Road, is situated 40 minutes northeast of Baltimore, Md. and is 100 percent leased to Rite Aid of Maryland, Inc.

601 Chelsea Road sits on 126 acres and features 36’–38’ clear height, 55’ x 52’ column spacing, a power capacity of 12,000 amps 277/480-volt, 80,000 square feet of temperature-controlled space, ESFR sprinklers, 128 dock doors, two drive-in doors, 248 trailer parking spaces, and 893 auto parking spaces.

“We believe that the site at 601 Chelsea Road is ideal for today’s modern bulk user, providing access to Baltimore’s deep-water port and connectivity to strategic markets along the I-95 corridor. Additionally, the low site coverage allows for future flexibility to provide additional trailer and auto parking or expand the facility by 300,000 square feet,” said James Munsell, Director of Commercial Acquisitions for CBRE Global Investors. “Since acquiring a 1.35-million-square-foot industrial portfolio across the road earlier this year, our team has continued to see strong demand for bulk warehouse space and the addition of 601 Chelsea Road will create synergies with our existing portfolio.”

601 Chelsea Road is in Maryland’s Harford/Cecil County submarket, which is the largest in the MSA. This location provides users access to a population of 15 million within a 90-minute drive with the ability to reach one third of the U.S. population within a one-day drive. In addition to both a deep labor pool and consumers population, the location provides users access to the Port of Baltimore, CSX and Norfolk Southern freight services, and the BWI Airport.

About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $129.1 billion in assets under management* as of June 30, 2021. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.

CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.