Land Off I-95 At MD 43 Slated For Development

WHITE MARSH, MD – Land that has sat vacant off Interstate 95 near MD 43 will soon be developed. Two companies have acquired the 52-acre parcel and are working on concept plans for its future development.

Atapco Properties and Chesapeake Real Estate Group have entered into a joint venture partnership to take over the next phase for the property. The new owners said the site is among the best they have seen, in part because of its visibility, with approximately 2,000 square feet of frontage along Interstate 95.

More than 160,000 vehicles pass by the location daily, according to developers.

Previously, the land was owned by Paragon Outlets, which proposed a 525,000-square-foot outlet center that was met with opposition from community members and business leaders.

The plan that the new owners have is to build a "mixed-use business community" that may include office, industrial and retail spaces, according to a statement from Atapco Properties.

“Atapco has developed a number of other similar business parks with retail components, and this site is among the best,” said Brian Conklin, director of acquisitions for Atapco Properties.

Among the projects in the Baltimore-based real estate company's portfolio are Steeplechase 95 International Business Park off Interstate 495 and the Patuxent Range Road warehouse in the Baltimore Washington Industrial Park.

Developers say they are working on the concept plans for the land on I-95 at MD 43 and will release more details soon.

“This site is shovel-ready, and we intend to leverage the existing pent-up demand for strategically-located office/warehouse and e-commerce space along the Interstate 95 corridor,” Chesapeake Real Estate Group owner Jim Lighthizer said in the statement.

Chesapeake Real Estate Group, headquartered in Hanover, is a commercial real estate firm that manages more than 3 million square feet of property and has industrial projects planned or under construction in the mid-Atlantic totaling 2 million square feet. Some of its projects include the Baltimore Crossroads @95 near White Marsh and the Perryman Logistics Center in Harford County.

The newly acquired property near White Marsh was a gem, according to the real estate executive.

“Few sites in the Mid-Atlantic region can match this project’s outstanding highway visibility and access from Interstate 95, proximity to several ports including Baltimore, Philadelphia and Wilmington and access to nearly one-third of the United States population within a one-day truck drive," Lighthizer said. "We have recently begun marketing the site to end-users, and it is being extremely well-received.”

RELATED: White Marsh Outlet Project Stalls, Land Possibly Changing Hands

Image via Google street view.