National logistics services provider renews 169,000 SF lease in Chesapeake Commerce Center 5900 and signs new lease for 182,000 SF build-to-suit warehouse on adjacent site.
The Washington DC/Baltimore office of Duke Realty Corporation (NYSE: DRE), the leading domestic-only, industrial-focused REIT (Real Estate Investment Trust) in the country, announces that Ace Logistics, a Baltimore-based provider of warehouse and logistics services, has signed leases for two buildings in Duke Realty’s Chesapeake Commerce Center, a 177-acre industrial campus off I-95 in Eastern Baltimore City.
The two transactions include a renewal of Ace Logistics’ existing lease at Chesapeake Commerce Center 5900, a 169,000-square-foot building located at 5900 Holabird Avenue, as well as a new lease for Chesapeake Commerce Center 6000, an 182,000-square-foot, build-to-suit warehouse that Duke Realty will develop on the adjacent site. The new building’s address will be 6000 Holabird Avenue.
With the construction of Ace Logistics’ new BTS facility, Chesapeake Commerce Center will be fully developed, with all seven buildings in the distribution hub fully leased.
“We are pleased that Ace Logistics has chosen Duke Realty and Chesapeake Commerce Center for their expanding warehouse and distribution operations,” said Battista Orcino, Vice President of Leasing and Development for Duke Realty in Washington DC, Baltimore and Raleigh. “These leases are indicative of the advantages Chesapeake Commerce Center offers in terms of first-class warehouse space complemented by superior access to I-95 as well as convenient access to the Port of Baltimore.”
Duke Realty purchased the site at Broening Highway and Holabird Avenue, on which a former General Motors assembly plant stood, in 2005. Over the past 13 years, the company has redeveloped and transformed Chesapeake Commerce Center into a modern industrial hub with state-of-the art warehouse space occupied by tenants such as Amazon, Berry Global, A & S Services and Hopkins Home Care. Its superior highway access and proximity to the Seagirt and Dundalk Marine terminals have been beneficial to logistics companies with multiple transportation needs.
Peter Hajimihalis and Ben Meisels from JLL represented Ace Logistics in its transactions, while Duke Realty was represented by listing broker Justin Mohler with CBRE and Mr. Orcino.
About Duke Realty
In Baltimore, Duke Realty owns and manages 2.6 million square feet of logistics properties. Duke Realty operates its Baltimore portfolio out of its office located at 2900 S. Quincy Street, Suite 310, Arlington, VA 22206.
On a nationwide basis Duke Realty Corporation owns and operates approximately 156 million rentable square feet of logistics industrial assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.