Aberdeen, MD

CBRE Investment Management Fund Acquires 672,000-Square-Foot Distribution Center Outside of Baltimore

March 8, 2022

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A fund sponsored by CBRE Investment Management has acquired a 672,000-square-foot bulk distribution center in Aberdeen, Maryland, 26 miles northeast of Baltimore. Located at 511 Chelsea Road, the Class A facility is aligned with the firm’s commitment to investing in strategic logistics assets in key industrial markets across the U.S.

Originally built in 2008, 511 Chelsea Road is a cross-dock facility that features 32’ clear heights, four points of ingress/egress, 2,000-amp electric service, ESFR sprinkler systems, auto and trailer parking, charging stations, oversized ceiling fans and floor-to-ceiling racking. The building is currently 100 percent leased to a single user. On behalf of the same fund, CBRE Investment Management also owns three logistics facilities immediately adjacent to the property at 521, 531 and 601 Chelsea Road, which allows the fund to create a best-in-class park setting.

“The logistics sector remains a key focus for our investment strategy. We believe that this particular property offers significant long-term profitability given its location within the greater Baltimore metro area, a market with strong economic fundamentals and robust growth that is expected to outperform the overall U.S. logistics market,” said Larissa Belova, Portfolio Manager for CBRE Investment Management.

511 Chelsea Road offers convenient access to the Port of Baltimore and the I-95 corridor, the major East Coast north/south thoroughfare, a key driver of tenant demand as it places the property within a 90-minute drive of major population centers totaling approximately 15 million people. Nearly one third of the overall U.S. population can be reached within one day’s drive of the property. The location also provides users access to the CSX and Norfolk Southern freight services and the BWI Airport.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $141.9 billion in assets under management* as of December 31, 2021, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management 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 Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.