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07/10/2008 |
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Mid-Atlantic Real Estate Journal -
Chesapeake Real Estate Group, LLC acquired 107,000 s/f former Owens Corning roofing plant |
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Lighthizer and Lilja represented Chesapeake Real Estate Group
JESSUP, MD - Chesapeake Real Estate Group, LLC, is pleased to announce the acquisition of a 107,000 square-foot warehouse facility on 15 acres of land at 8235 Patuxent Range Rd., and the simultaneous lease of 100% of the facility to ULMA Form Works, Inc.
Chesapeake Real Estate Group, LLC purchased the property on May 8. Owens Corning, based in Toledo, Ohio, operated a roof shingle manufacturing plant at the property and utilized an active on-site CSX rail spur. The plant closed in 2007.
ULMA Forms Works is consolidating two facilities from Baltimore into this one facility in Jessup. In addition, Chesapeake will be taking the property through the State of Maryland's Voluntary Clean-Up Program. This will be the fourth brownfield property Chesapeake has taken through the VCP.
Paul Boncaro of Corridor Reznick, LLC and Scott Manhoff and Doug Kauffman of Grubb & Ellis represented ULMA in the transaction. Jim Lighthizer and Geoff Lilja represented Chesapeake Real Estate Group, LLC.
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