21-Acre Industrial Property Slated for Redevelopment in Carroll-Camden Industrial Area
Hanover, Maryland-based Chesapeake Real Estate Group (CREG) is under contract on the former Kaydon Ring & Seal facility at 1400 Bush St. in Carroll-Camden Industrial Area. CREG is planning on demolishing the existing buildings on the 21-acre property and developing a new industrial/logistics facility.
Kaydon closed its Baltimore facility in 2017 and relocated to Hanover, Pennsylvania.
A spokesperson for CREG told SouthBMore.com: “The site is under contract by Chesapeake Real Estate Group and they are currently finalizing the design of the eventual buildings. No specifics on size or scope have been determined but additional information should be available at the beginning of the year.”
A brochure on CREG’s website states there is a potential for a 393,000 sq. ft. logistics building with more than 100 dock doors and 282 parking spaces.
The property faces S. Monroe St., Wicomico St., and Bush St. It also shares the 1400 block of Bush St. with STX.
The property is in an Enterprise Zone, Empowerment Zone, and HUB Zone.
A property next door at 1601 Wicomico St. sold in recent weeks for $17.5 million.
CREG redeveloped the former Sun Products manufacturing facility in Canton after acquiring the property in 2015. The company now controls 1,053,522 sq. ft. of warehouse space in Southeast Baltimore and also many other warehouse facilities along the I-95 corridor in Maryland.
In a recent study, commercial brokerage CBRE reported a 1.6 percent vacancy level for industrial product in Baltimore City.
More than 1,480,750 sq. ft. of warehouse and office space for logistics centers are currently being developed in Curtis Bay.
The redevelopment of Kaydon is the latest investment in Carroll-Camden Industrial Area. In recent months Mayorga Organics purchased a 120,000 sq. ft. building at 901 W. Ostend St.; Sandtown Furniture Co. purchased a 32,000 sq. ft. building at 1226 Wicomico St.; the 100,000 sq. ft. Gaslight Square complex was sold to Equity Warehouse; Public Storage started constructing a 940-unit storage building at 1500 Ridgely St.; Mingrub purchased an 8,000 sq. ft. warehouse at 1412-1418 Carey St.; and 1201-1203 Bush St. changed hands and was renovated.
Screenshot of the property from Google Maps
About the Author: Kevin Lynch
Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
