Home Business News MRP, Clarion acquire 11 acres in Jessup

MRP, Clarion acquire 11 acres in Jessup

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MRP Industrial, a commercial real estate development and investment company headquartered in Baltimore, and investment partner Clarion Partners, has announced the acquisition of an 11-acre site in Jessup from GLP Development for an undisclosed price. The group intends to break ground in spring 2019 on a speculative 175,200-square-foot warehouse/industrial project, with delivery expected to occur before the end of next year.

The site is located at 7951 Oceano Avenue within the Maryland Food Center near the intersection of routes 175 and 1. “Tenant and investor demand for industrial and warehouse product in the Baltimore-Washington Corridor, as well as nationally, has shown no signs of subsiding and we expect continued momentum in this product category based on existing fundamentals,” said Reid Townsend, principal of MRP Industrial.