Delivering in February 2020, the Property features all of the hallmarks of Class A product including 36’ clear heights, LED lighting, ample dock door capacity and generous truck courts. With significant freezer and cooler buildouts, the Property is ideally positioned to benefit from the dramatic rise in refrigerated storage demand taking place across the country. Accordingly, this investment offering represents a coveted opportunity to acquire a Class A, institutional quality industrial property in an desirable Mid-Atlantic distribution location, with corporate neighbors including Amazon, Lidl, Smithfield Foods, General Electric and Medline.
- Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for the sale of the Principio Commerce Center II (the “Property”), a 550,050 square foot cold storage and distribution facility in the heart of the Interstate 95 industrial corridor. The Property is strategically located within less than 1.25 miles of Interstate 95, the primary east coast distribution arterial and adjacent to U.S. Route 40 (Pulaski Highway) offering direct access between Baltimore and Philadelphia. The vast transportation options offered by Baltimore, Washington, DC, New York and Philadelphia are all within 200 miles of the Property. The Property is located within Principio Business Park, a multi-phase, best-in-class industrial complex that will total over 8.6 million square feet at full buildout.
- Principio Commerce Center is 100% leased to KeHE Distributors, LLC through Jan 2030. KeHE Distributors is one of the oldest and most respected natural foods distributors in the industry. Founded in 1953 and converted into an employee-owned company in 2001, KeHE is a state-of-the-art organization of 5,500 employee-owners and a vast 17 distribution center network across the U.S. and Canada. With nearly $5 Billion in annual revenue, KeHE is one of the world’s foremost organic and specialty foods distributors and has deep expertise on the hottest and best offerings for today’s consumers. Principio will serve as the distribution/storage center servicing KeHe’s new agreement with a major regional grocer.