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FOR IMMEDIATE RELEASE ATAPCO PROPERTIES AND CHESAPEAKE REAL ESTATE GROUP BEGIN CONSTRUCTION ON TWO BUILDINGS IN WHITE MARSH AREABALTIMORE, MD (April 25, 2019) – A joint venture partnership between Atapco Properties (Atapco) and Chesapeake Real Estate Group, LLC (CREG) has initiated construction on two warehouse/industrial buildings within Nottingham Ridge Logistics Center, containing more than 750,000 square feet of space. Last year, the group acquired the 52-acre parcel of land located at the intersection of MD Route 43 and Interstate 95 in the White Marsh section of Baltimore County from Paragon Outlets Baltimore. Marketing and leasing are currently underway on the two buildings. The completion date is estimated to be in first quarter 2020. Construction has commenced on the two-building project comprised of 5300 Nottingham Drive, a 585,000 square foot Class “A” warehouse/industrial building featuring 36 foot clear ceiling heights in addition to the adjacent 5301 Nottingham Drive, a 165,000 square foot Class “A” warehouse/industrial building with 32 foot clear ceiling heights. Both will be equipped with drive-in and dock door loading capabilities“We are proceeding with this speculative development because we remain extremely confident about the health and vibrancy of the warehouse/industrial market segment throughout the Mid-Atlantic region, especially for sites with immediate access to the Interstate 95 corridor,” explained Armin Groeschel, Vice President of Development for Atapco Properties. “The continuing demand among consumers in this country for the same-day or next-day delivery of products is the most significant driver among retailers for requiring logistics centers with close proximity to major population centers. Nottingham Ridge Logistics Center offers direct highway visibility and access from Interstate 95, proximity to the Baltimore, Wilmington and Philadelphia ports and can deliver goods to nearly one-third of the United States population within a one-day truck drive.” Atapco’s development division is taking the lead on the day-to-day development and construction for both 5300 and 5301 Nottingham Drive. CREG will be spearheading the marketing and leasing efforts, managed by Matt Laraway, SIOR, Partner; Ed Brady, Vice President and Scott Skogmo, SIOR, Senior Director for the company. The project's viability is supported by approximately 750,000 consumers reside within a ten-mile radius of the site and nearly seven million people are located within fifty miles. More than 160,000 vehicles pass the project via Interstate 95 on a daily basis on a highway that was recently expanded to facilitate usage and traffic flow. Three major ports can be accessed in less than 90 minutes including Baltimore (10 miles); Wilmington (50 miles) and Philadelphia (90 miles). Atapco Properties and Chesapeake Real Estate Group have completed a number of real estate endeavors together, most notably Antrim Commons Business Park in Pennsylvania and Patuxent Range Road in the Baltimore Washington Industrial Park in Maryland. Atapco has also developed one of the most transformative industrial/mixed use projects in Prince Georges County, Steeplechase Business Park. CREG was also involved with leasing on the Steeplechase project. ###Atapco Properties, Inc. is a wholly-owned subsidiary of American Trading and Production Corporation, an entity formed in 1931 to consolidate, expand and diversify the business activities of the Blaustein family, the founders of the American Oil Company (AMOCO). Atapco Properties is active in Maryland, Indiana, New Jersey, North Carolina, Pennsylvania, and Virginia, developing state-of-the-art industrial, retail, residential, office and mixed-use projects with an emphasis on sustainability and green building standards. For more information on Atapco Properties, visit .Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland, is a fully-integrated commercial real estate operating company that focuses on real estate development, leasing, property management and brokerage services. The company owns a diverse portfolio encompassing Class “A” industrial and commercial office properties, as well as retail centers. Chesapeake Real Estate Group also participates in joint venture partner arrangements on select investments. The firm currently has more than two million square feet of industrial projects planned or under construction in the Mid-Atlantic region and over four million square feet under management. Notable projects include the Perryman Logistics Center, Port 95 Industrial Park, Penn 95 Commerce Center, Baltimore Crossroads @95 and 210 Allegheny Avenue. For more information visit ................
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