Sterling Logistics Properties acquires 11 acre site zoned for industrial use in Columbia, MD

Sterling Logistics Properties, a subsidiary of Sterling Organization which is a vertically integrated private equity real estate investment firm focused on investing in retail and distribution real estate assets across the risk spectrum in major markets within the United States, has announced the acquisition of 9161 Commerce Center Drive in Columbia, MD ("Columbia"), a 56,976 square foot building that sits on over 11 acres of land. The property was acquired on behalf of the company's Sterling Consumer Logistics Properties I, LP ("SCLP I"), a $225 million equity Fund which seeks to acquire primarily vacant, freestanding retail buildings with the intent to redevelop them into Neighborhood Fulfillment Centers. This property marks the eighth acquisition for The Fund.

Strategically located in Howard County-one of the wealthiest counties in the United States-this property is zoned by right for industrial use and offers immediate access to I-95, just two miles away. Positioned between Baltimore and Washington, D.C., the site enjoys a prime location at the heart of a dynamic economic corridor. It is uniquely situated adjacent to a diverse blend of industrial, retail, and residential developments. The property also borders a major industrial and distribution hub that includes prominent tenants such as Costco Logistics, Ross Dress for Less, PepsiCo, Iron Mountain, and National Delivery Systems.

"We're thrilled about this acquisition," said Joe Dykstra, President of Sterling Logistics Properties. "We believe that the site's strategic location along the supply chain-critical I-95 corridor makes it an ideal setting for a Neighborhood Fulfillment Center, with access to nearly 10 million people within a one-hour drive across the Washington, D.C. MSA. We look forward to developing a brand-new, 185,000-square-foot, Class A, institutional-quality warehouse to meet the growing demand for efficient logistics infrastructure," he added.