A fund sponsored by CBRE Global Investors has acquired the Principio Commerce Center II, a 550,050-square-foot cold-storage and distribution facility in North East, Maryland. The class A property, which is located at 585 Principio Parkway West, is fully leased to a major specialty food distributor. The acquisition is part of the fund’s broader strategy to invest in target industrial markets across the United States.
Principio Commerce Center II was delivered during the first quarter 2020 and features 36’ clear heights, cross-dock configuration, 54’ x 54’ column spacing, 195 trailer drops, and 5,000 AMP service. The building currently features 154,000 square feet of dedicated freezer and cooler space. A glycol system was included under the entire footprint of the temperature-controlled portion of the building, affording the option to expand the existing freezer space — which spans 75,000 square feet — to fit future tenancy needs.
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