9.6-Acre Parcel in Fairfield Sells for $2.310 Million, Leased to Vehicle Processing Business

| May 3, 2019 | 0 Comments

A 9.6-acre parcel at 1935 Chesapeake Ave. in the Fairfield Maritime District has sold on April 16th for $2.310 million. The parcel was operated for more than 50 years as an asphalt terminal by a subsidiary of Chevron. It ceased operations in 2003.

Commercial real estate brokerage Gold and Company brokered the deal. According to a statement, the new owner will demolish the existing structure and make site improvements including paving, lighting, and fencing for a long-term lease to AMPORTS, a national credit company that has a large presence in Baltimore for new vehicle processing.

1935 Chesapeake Ave. is located near the Port of Baltimore which set cargo records in 2018. Port of Baltimore is the number one point of entry for automobiles into the United States.

Jim Chivers and Mitch Gold of Gold and Company introduced the property to a local industrial developer and said in a press release, “This is good for the property, the port, and the city.”

An adjacent 5.5-acre property at 1940 Chesapeake Ave. sold last year for $1.6 million and was leased to AMPORTS.

Picture courtesy of Gold of Gold and Company

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