PCCP, Panattoni Buy Maryland Site for Logistics Project
- Mar 03, 2021
A partnership of PCCP LLC and Panattoni Development Co. has purchased a 90-acre site for the upcoming speculative industrial development dubbed Creekside Logistics Center in Hagerstown, Md. The planned 730,880-square-foot Class A warehouse is expected to deliver in December 2021.
According to The Herald-Mail, Heritage Capital LLC was the owner of the land and sold the plot “construction-ready,” with the Washington County Planning Commission giving the green light for the warehouse proposal last September. Earlier, county officials approved the rezoning of 30 acres included in the project, from Business Local to Planned Industrial.
The property is situated at 16422 National Pike, just off Interstate 81 and near Interstate 70, south of the Pennsylvania-Maryland border.
Creekside Logistics Center is approved for 408 parking spaces and will offer 40-foot ceiling heights. The project marks the partners’ twelfth collaboration, according to Ryan Dodge, senior vice president with PCCP. Last month, the company picked up a 729,610-square-foot, two-building industrial complex in Portland, Ore. Washington Capital sold the Class A ensemble in an $82.5 million deal.
NorthPoint Development is also betting on Hagerstown’s growing industrial market. The company is in the process of constructing a $139 million, 2.2 million-square-foot logistics center along Wesel Boulevard, roughly 5 miles from the Creekside plot. Amazon announced its 1 million-square-foot commitment at Hagerstown Logistics Center last October, The Record Herald reported.