Naval Training Center to be Converted to Industrial Complex in Maryland
By Keith Loria May 2, 2022 6:18 pm
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A joint venture between MRP Industrial and Hillwood Development Company will develop Bainbridge Logistics Center, the reactivation of the former Bainbridge Naval Training Center in Port Deposit, Md.
The U.S. Navy demolished the training center buildings several years ago. MRP began to evaluate the site for industrial development in 2019, according to the company. A master plan was agreed to between MRP and the State of Maryland in late 2020 and was fully entitled in under nine months. MRP then teamed with Hillwood to develop the project.
The first phase of the development will include 3.7 million square feet of logistics and distribution space across 440 acres. The development cost for the first phase is $300 million, according to a source with knowledge of the deal.
“The first and second of four buildings in phase one, totaling 1 million square feet and 608,520 square feet, respectively, will deliver in the spring of 2023 along with all park infrastructure and pad-ready sites for 1.7 million and 380,000 square feet, which are being marketed for build-to-suit opportunities,” D. Reid Townsend, principal of MRP Industrial, told Commercial Observer.
Phase two master planning has commenced and is expected to be available as early as 2024.
The property is directly off Interstate 95, at Exit 93 in Cecil County. Major tenants with an industrial presence in the submarket include Amazon, Ikea, Restoration Hardware, GE, Wayfair and The Container Store.
“The 35 million-square-foot Harford/Cecil County industrial market has long served as the primary location for large distribution requirements in Maryland,” Townsend said. “The submarket currently maintains a vacancy rate of 5 percent, with limited entitled sites prepared to deliver through the end of 2023.”
Bainbridge will be able to respond to a wide range of future tenant requirements ranging in size from 350,000 to more than 1.7 million square feet.
The initial phase of the project includes a private investment of more than $30 million in infrastructure improvements, including the expansion of both water and sanitary services engineered to support both Bainbridge and the surrounding community. The development team, in partnership with the Maryland Department of Natural Resources, has also dedicated 96 acres for a permanent forest conservation easement.
“There is a major distribution and logistics market in this region, and the development of Bainbridge will be a tremendous asset and help us continue to meet the need for more and more companies seeking to do business in our state,” Maryland Gov. Larry Hogan said in a prepared statement.
Keith Loria can be reached at Kloria@commercialobserver.com.
