The former Bainbridge Naval Training Center will be redeveloped
The former Bainbridge Naval Training Center at Port Deposit will be developed for up to 3.7 million square feet of logistics and distribution space on 440 acres, it was announced Friday.
The site is being developed through a joint venture partnership between MRP Industrial, a Baltimore-based commercial real estate and investment firm, and Hillwood Development Company LLC, a real estate development and investment group in Dallas. At full construction, over 2,000 new jobs could be supported at the site, depending on specific end-user requirements.
The initial phase of the project includes private investment in more than $30 million in infrastructure improvements that will go to Cecil County and the town of Port Deposit when completed in the fall.
Public improvements include the expansion of water and sanitary services designed to support both Bainbridge and the surrounding community. Park infrastructure also includes the construction of approximately three miles of public roads to connect the park to the three state highways surrounding the perimeter of the official naval training base.
In partnership with the Maryland Department of Natural Resources, the development team has also dedicated 96 acres to a permanent Forrest conservation easement, further enhancing the park as the setting for the future logistics campus.
Later this spring, the site will be mass listed for readiness and speculative construction will begin on the first two of four planned buildings on the site – totaling just over 1 million square feet and 605,280 square feet respectively. . These two speculative Class “A” single storey warehouse logistics buildings are expected to be delivered in the first quarter of 2023.
Each building is designed to achieve LEED certification with LED lighting, white reflective roofs and other energy saving features. Both sites feature deep truck lots to support the movement of large tractor-trailers and separate parking lots for employee and visitor parking. Large open space floor plates are suitable for a range of light manufacturing, warehouse, logistics and last mile operations and can accommodate single or multi-tenant uses.
Businesses that lease space at the Bainbridge Logistics Center can take advantage of a suite of incentives, including Cecil County Enterprise Zone Income and Property Tax Credits, Exemption state sales and use tax for building materials, warehousing and manufacturing equipment, and foreign trade area.
Bohler Engineering and GW Stephens & Associates have partnered as the civil engineer for the project. MacGregor Associates will serve as the project architect. Conlan was selected as the general contractor with the assistance of site contractor DXI Construction.
According to CBRE’s First Quarter 2022 Industrial Market Report, robust leasing activity in 2021 produced a vacancy rate of 5.1% in the Harford/Cecil County submarket, which comprises approximately 35.2 million square feet of space. In the greater Baltimore North I-95 corridor, an area encompassing the southeast side of Baltimore, eastern Baltimore County and all of Harford and Cecil counties, more than 11 million square feet of industrial space have been rented out last year and rents for class “A” space have increased by 25.5%.
Shifts in consumer shopping habits fueled by the pandemic have caused U.S. e-commerce sales to surpass the $1 trillion mark, marking an all-time high, a trend that had increased slightly over the past five years, but has accelerated considerably over the past 18 months. . Real estate experts now believe that shopping habits have changed permanently and, according to information published by the US Census Bureau, more than 13% of all retail purchases are now made through digital orders.
Over the next five years, nearly 1.5 billion square feet of logistics space will be added to the global space inventory in response to the rise of e-commerce, according to CBRE.