6 — February 2026 — DelMarVa — M id A tlantic Real Estate Journal
www.marej.com
D el M ar V a Seven buildings occupied by a diverse 17-tenant roster Camber & PGIM acquires 745,000 s/f industrial portfolio
Cresa brokers Navy Federal’s 100K s/f Vienna, VA office purchase
ALTIMORE, MD — Camber Real Estate Partners (Camber) of Montclair, NJ, in a joint venture with PGIM’s real estate business, has acquired a seven-building industrial portfolio totaling 745,270 s/f in the Greater Baltimore Metro area. The package was acquired for an undisclosed price from an unnamed seller. Comprised of highly func - tional and well-established institutional-quality assets, the properties are located in Halethorpe, Jessup, Middle River, Rosedale and Balti - more. At the time of sale, the portfolio was occupied by 17 individual tenants, represent- ing a diverse mix of industries and providing a stable, multi- tenant income stream. “This acquisition represents a significant expansion of our footprint in the Mid-Atlantic region,” said Christopher Bellapianta , Camber man - aging principal. “Drawn by the Baltimore industrial mar- ket’s incredible resilience and growth, this joint venture ac- quisition demonstrates our fo- cus on securing high-quality, infill assets in one of the most supply-constrained corridors on the East Coast. We look for - ward to applying our hands- on management approach to SALISBURY, MD — The McClellan Team with SVN | Miller Commercial Real Estate sold 54.5 acres to Wic - omico County, a transaction that directly supports critical community infrastructure needs. The property is lo- cated adjacent to the County landfill, at the intersection of Naylor Mill Road and Route 50 Business on the west side of Salisbury. This strategic acquisition provides Wicomico County with direct, on-site access to essential fill dirt required for daily landfill operations – eliminating the need for costly off-site transportation. As a result, the County will benefit from improved operational efficiency, reduced long-term expenses, and enhanced ca- pacity to responsibly manage future landfill demands. B While highly impactful, the transaction was complex and required extensive co- ordination over an extended period. McClellan Team Ad -
901 Follin Ln.
Navy Federal’s headquarters and, for the time being, will be used for extra parking. Future plans for the site are still to be determined. “Flexibility in today’s market is invaluable,” said Navy Fed - eral’s Senior Vice President, Workplace Infrastructure and Logistics, George Eichert . “The acquisition of the prop- erty on Follin Lane solves our short-term needs while, at the same time, creates a long-term opportunity for growth. It’s a win-win.” MAREJ
VIENNA, VA — Cresa’s Gene Sachs, Rich Rhodes and Dan Silverman recently assisted Navy Federal Credit Union (Navy Federal) in its purchase of a vacant 100,000 s/f office building on 9.12 acres in Vienna, from Zalco Commercial in a $12.0 million deal. Located at 901 Follin Ln., the functionally obsolete prop- erty was previously leased to a federal government tenant but has sat vacant for the last six plus years. It sits directly across the street from the
Greater Baltimore Metro area portfolio
further enhance the value of these properties.” The transaction also high- lights continued institutional appetite for light industrial and “shallow-bay” product — assets that are increasingly difficult to develop in high- barrier-to-entry markets. “We are pleased to partner with Camber Real Estate Partners on this transaction,” said Ian Christ, managing director at PGIM. “This port - folio aligns with our strat- egy of investing in functional industrial assets located in logistics hubs with strong demand drivers. The Greater Baltimore area serves as a critical link in the East Coast supply chain, and these assets are well-positioned to benefit from the region’s long-term economic fundamentals.” The portfolio’s location pro- vides immediate access to
major transportation infra- structure, including I-95, I-695 and I-895, offering ten- ants seamless connectivity to the Port of Baltimore and the broader Northeast Corridor. “The diversity of the tenant base and the flexible con- figurations of these buildings make this an exceptional ad- dition to our portfolio,” add- ed Camber’s Kevin Interlic - chio, director of acquisitions. “These assets are designed to meet the needs of modern users who require functional loading, ample parking and proximity to a dense popu- lation base. We are excited about integrating these build- ings into our platform.” The seller was represented in the transaction by Cris Abramson, Ben McCarty, Nick Signor, Henry Plesz - koch and Sam Slater of Newmark . MAREJ
St. John Properties enters Delaware with acquisition of 75-acre site in Middletown
The McClellan Team with SVN | Miller Commercial Real Estate facilitates strategic land sale to Wicomico County, MD
Photo is representative of the prototypical building planned for Middle- town Exchange - credit: St. John Properties.
partner to purchase the resi- dential land parcels and build the approved 450 homes. Middletown Exchange is adjacent to US Rte. 301, less than 30 miles from Wilmington, and 50 miles from Philadelphia. Upon completion, the commer - cial component of the project is expected to support more than 600 jobs. The company’s signature flex/R&D buildings are single- story “part office/part ware- house” buildings separated into suites which can be built to suit based on each tenant’s requirements. The prototype building is a LEED designed brick building and includes 18-foot clear heights, rear dock and drive-in loading doors, el- evated landscaping, and ample parking to support office, retail or light industrial users. The product serves a broad array of businesses including pro- fessional services companies, traditional office uses, retailers, and warehouse/logistics users, among others. MAREJ
MIDDLETOWN, DE — St. John Properties, Inc. has entered its 13th state with the acquisition of a 75-acre site off Bunker Hill Rd. in Middletown. The Baltimore-based com- pany, with 16 regional offices throughout the country, will develop Middletown Exchange, a mixed-used community com- prising 225,000 s/f of flex/R&D and retail space, along with 450 homes. Groundbreaking for Phase I is expected to occur this spring and will include the speculative development of two flex/R&D buildings totaling 96,000 s/f, with delivery expected early next year. Three additional flex/ office buildings are planned for future development based on leasing momentum. St. John Properties’ Alex Lyons , assistant VP, acquisi - tions and Sean Doordan, se- nior executive VP, Acquisitions and Growth, represented the company in this land purchase. St. John Properties is currently searching for a development
The intersection of Naylor Mill Road and Route 50
and tenacity enabled us to get through to a successful closing – their dedication to the deal was unmatched,” said the seller. This property was subdivid- ed from a larger landholding, and with this portion now sold to the County, the McClellan Team will begin marketing two additional unimproved com- mercial parcels fronting Route 50 Business. These fully subdi- vided parcels feature approved perc tests and offer prime development opportunities for forward-thinking users seeking a highly visible and strategi- cally located site. MAREJ
visors, J ohn McClellan, SIOR, CCIM and Kelly Jeter worked closely with both the buyer and seller to navigate challenges that could have otherwise derailed the deal. Through persistence, expertise, and collaborative problem-solving, John and Kelly successfully guided the transaction to closing – ap - proximately one year later than originally anticipated – with all parties extremely satisfied with the outcome. “We could not be happier with the guidance and ex- pertise provided by John and Kelly. Their professionalism
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