BALTIMORE, MD — A joint venture partnership between Atapco Properties and Chesapeake Real Estate Group, LLC (CREG) have acquired a 52-acre parcel of land, located at the intersection of MD Rte. 43 and I-95 in the White Marsh section of Baltimore County from Paragon Outlets Baltimore. Formerly the site of a proposed 525,000 s/f retail outlet shopping center, the new owners intend to develop a mixed-use business community, which may include industrial, retail and office uses. Atapco Properties and Chesapeake Real Estate Group are both Baltimore-based, full-service real estate development companies. The project team is working on concept plans and more details on the project will be available soon.
“This site is shovel-ready and we intend to leverage the existing pent-up demand for strategically-located office/warehouse and e-commerce space along the Interstate 95 corridor,” explained Jim Lighthizer, founder and Owner of Chesapeake Real Estate Group. “Few sites in the Mid-Atlantic region can match this project’s outstanding highway visibility and access from Interstate 95, proximity to several ports including Baltimore, Philadelphia and Wilmington and access to nearly one-third of the United States population within a one-day truck drive. We have recently begun marketing the site to end-users and it is being extremely well-received.”