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AEW-Manekin JV Acquires 730k SF Logistics Center

A joint venture between AEW Capital Management and Manekin acquired the Baltimore-Washington Logistics Center for an undisclosed amount. The venture, MCA Assateague JV LLC, bought the property on behalf of a separate account client. The 60-acre, 730k SF logistics center was built from 1972 to 1974 as Giant Food's main distribution facility. In 2013 its current seller, JV Madison-SP Assateague LLC, purchased it, GlobeSt reports. The new owners plan to add 120k SF to the building, and speculatively develop a 160k SF industrial building on the site. After the expansion, there will be 1M SF-plus available to lease, plus enough space for 400 trailer parking spaces. [GS]