FRP Development Corp. (FRP), a Baltimore-based development and investment company, has acquired a 55-acre site in the Aberdeen section of Harford County.
Terms of the deal were not disclosed.
The acreage fronts 1001 Old Philadelphia Road and is adjacent to FRP’s Cranberry Run Business Park, a five-building industrial park containing approximately 270,000 square feet of warehouse and flex space. Peter Dudley and Christopher Wright of KLNB represented FRP in this transaction.
FRP has initiated pre-development work and will seek entitlements at the site. Construction is expected to begin within the next two to three years on a to-be-determined site plan, but could include up to approximately 700,000 square feet of speculative warehouse space. The site is located less than five miles from Interstate 95, 25 miles from the Port of Baltimore, 50 miles from Wilmington, Delaware and 70 miles from the Port of Philadelphia.
The project’s positioning in the mid-Atlantic region makes it accessible to nearly 40% of the United States population within a single-day truck drive. The Baltimore-Washington region, with more than 10 million consumers in the Combined Statistical Area (CSA) is currently ranked as the fourth largest metropolitan region in the country.