CBRE Global Investors acquires 1.35M SF industrial portfolio in Aberdeen

Daily Record Staff//January 11, 2021//

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cbre-330 — 521 Chelsea Road spans 692,000 square feet and was completed in 2012, while 531 Chelsea Road spans 655,800 square feet and was completed in 2014. Both properties are LEED Silver Certified and feature 40-foot clear heights, 50-by-50-foot column spacing and include ample truck and car parking. (Photo courtesy of CBRE)

A fund sponsored by CBRE Global Investors has acquired a 1,347,800-square-foot industrial portfolio in Aberdeen, officials announced Monday.

Located 40 minutes northeast of Baltimore, 521 and 531 Chelsea Road are bulk warehouse/distribution buildings that are each currently 100 percent leased.

521 Chelsea Road spans 692,000 square feet and was completed in 2012, while 531 Chelsea Road spans 655,800 square feet and was completed in 2014. Both properties are LEED Silver Certified and feature 40-foot clear heights, 50-by-50-foot column spacing and include ample truck and car parking.

Kim Hourihan, Portfolio Manager and CIO of Americas Direct Real Estate for CBRE Global Investors, said the property, situated just off of I-95, 521 and 531 Chelsea Road are well-located and provide users access to a population of 15 million within a 90-minute drive, with the ability to reach one-third of the U.S. population within a one-day drive. In addition to both a deep labor pool and consumer population, the location is near the Port of Baltimore, CSX and Norfolk Southern freight services and Baltimore-Washington International Thurgood Marshall Airport.

The seller was represented by CBRE’s National Partners team of Bo Cashman and Jonathan Beard.