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A rendering of the planned industrial distribution facility to be constructed on property recently acquired by Sagard Real Estate. (Sagard Real Estate)
Real estate firm acquires Harford County site
Sagard Real Estate, a real estate investment firm, announced plans to develop a 14.2-acre plot of land into a new Class-A industrial distribution facility in Havre De Grace.
The firm, which will partner with Chesapeake Real Estate Group in the development, announced the move on Thursday. According to Sagard Real Estate, the site is “fully entitled” for the development of a 168,000 square-foot distribution warehouse.
This investment marks the fourth acquisition for Sagard Real Estate’s moderate value-add, open-end fund, the company said in a release.
Located near Interstate 95 and about 40 miles north of the Port of Baltimore, the site is conveniently accessible to the Mid-Atlantic’s major logistics corridors – part of what Sagard Real Estate feels makes it an “ideal site” for regional distribution and e-commerce operations.
“This investment reflects our continued focus on high-quality, purpose-built assets in markets with strong demand drivers and structural barriers to new supply,” said John Maurer, head of equity at Sagard Real Estate. “With the fund’s capital base recently strengthened by additional investor capital commitments, we’re well-positioned to pursue compelling opportunities at what we believe is a highly attractive point in the market cycle.”
According to Sagard, the planned building will include a variety of features: 36-foot clear heights, 280-foot building depths, 180-foot truck courts, 37 dock-high loading positions, 51 trailer drops, 122 auto parking spaces and a 2,500-square-foot speculative office suite.
“We’re excited to develop a new Class-A industrial facility with modern, institutional-grade features,” said Tyler Williams, Co-Portfolio Manager for the value-add, open-end fund at Sagard. “Harford County‘s access to infrastructure and population centers, along with restrictions on future industrial development, make it a compelling submarket for industrial investment, aligning with the fund’s focus on supply-constrained locations with structural demand drivers.”
