Located in Baltimore, MD, Carolina Capital (CC) partnered with Grenaco Partners, an industrial development and asset management firm, to purchase 1500 Chesapeake in June of 2022.
CC’s investment objective was to acquire an industrial parking yard with significant leasing and development upside. CC believes the asset strongly benefits from the proximity to the Port of Baltimore and a high barrier to entry market. The industrial site is entirely rented to Amports, which uses it as an imports and exports parking yard.
CC plans to assess all viable options to best reposition the asset throughout the hold.