Real Estate Journal — Owners, Developers & Managers — August 28 - September 10, 2015 — 5B
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M id A tlantic
O wners , D evelopers &M anagers Class A facility to be built near international airport Ridgeline Property to develop Hanover Business Center
Commercial Real Estate is COMING BACK & it's COMING BACK
H
ANOVER, MD — Ridgeline Property Group (RPG) an-
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nounced that it will develop a class A distribution center in Hanover, southwest of the city of Baltimore, with capital partner Cabot Properties Inc. Hanover Business Cen- ter, a 100,000 s/f distribution facility, will occupy a prime location at 1520 Stoney Run Rd. adjacent to Baltimore- Washington International Airport. The project will be built on a 7.9-acre site purchased by RPG and Cabot Proper- ties. Construction will begin in second-quarter 2016 and completion is scheduled for first-quarter 2017. “Demand is very strong for class A space as industrial tenants continue to expand in the Baltimore market, but developable land is in short supply, particularly in prime locations such as the site for Hanover Business Center,” said Greg Thurman , CEO of Ridgeline Property Group. “Hanover Business Center will offer modern, efficient class A space in a highly desirable location only three miles from Baltimore-Washington Inter- national Airport. The site also provides excellent access to the nearby Baltimore-Washington Parkway and Interstate 95.” Hanover Business Cen- ter will feature 28-foot clear heights, early suppression fast response (ESFR) fire sprin- klers, 1.4 parking spaces per thousand s/f, a 120-foot truck court, and separate entrances for cars and trucks. “Cabot Properties is pleased to expand our relationship with Ridgeline Property Group and partner with them on this project, which is strategi- cally located to provide supe- rior access to the Baltimore- Washington corridor. With the ongoing strong demand for industrial space, this is an excellent time to develop Hanover Business Center,” said Patrick Ryan , executive vice president of investments at Cabot Properties. RPG is also partnering with Cabot Properties on Susque- hanna Logistics Center, a 423,300 s/f distribution facility in York, PA, scheduled to be completed in December 2015. Since its inception in 2014, RPG has developed projects totaling 5.9 million s/f across the United States. n
Hanover Business Center
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