Stewart Properties Sells 550,050 SF Cold Storage Facility Near Baltimore

NORTH EAST, MD. — Stewart Properties has sold Principio Commerce Center II, a 550,050-square-foot cold storage facility in North East. The asset is fully leased to KeHE Distributors LLC. Stewart Properties delivered the property in February. The building features 36-foot clear heights; LED lighting; wide column spacing; loading positions including 43 dry, 14 cold and 36 additional punch-outs; four drive-in doors; and significant freezer and cooler buildouts. Principio Commerce Center is located at 585 Principio Parkway W., 47 miles northeast of downtown Baltimore and the Port of Baltimore. Bruce Strasburg, Dave Dannenfelser, Jay Wellschlager, Tyler Boykin and Craig Childs of JLL represented the seller in the transaction. CBRE Global Investors acquired the asset for an undisclosed price.

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