Chesapeake, EverWest Sign Best Buy to 500,400 SF Lease at Industrial Park in Metro Baltimore

GLEN BURNIE, MD. — Chesapeake Real Estate Group LLC (CREG) and EverWest Real Estate Investors LLC have signed a 500,400-square-foot lease with Best Buy at Brandon Woods III, a 259-acre industrial park in Glen Burnie, roughly 11 miles south of Baltimore. Matt Laraway and Scott Skogmo of CREG represented the company internally in the lease transaction, and Michael Royce of Avison Young represented Best Buy. CREG acquired the site from Exelon Corp. last year, and through a partnership with EverWest, will build up to 1 million square feet of industrial space. CREG and EverWest broke ground on the speculative facility at 7550 Perryman St. last year. Best Buy is scheduled to move into the new warehouse in March 2019, utilizing the space to distribute large products to stores throughout the Mid-Atlantic region. The building will also serve as a hub for the home delivery and installation of major appliances and large TVs, and a portion of the space will contain Best Buy service and repair technicians for consumer electronics and appliances. Best Buy plans to consolidate three existing locations throughout the Baltimore-Washington, D.C., metropolitan area to occupy the new building. In addition to the facility for Best Buy, CREG and EverWest will soon break ground on a second, 340,000-square-foot facility within the park. The partnership has also unveiled plans to develop a 150,000-square-foot building that will deliver in mid-2019 and a fourth building ranging between 80,000 and 100,000 square feet. Brandon Woods III is located within Brandon Woods Business Park, an industrial park originally developed by Constellation Real Estate. The park is home to tenants such as Reliable Churchill, Fila USA and Under Armour.