Hilco Global and Redwood Capital Shift Focus to Real Estate Development at Former Bethlehem Steel Site in Baltimore, Maryland
Tradepoint Atlantic is pleased to announce that FedEx Ground, the small-package ground delivery unit of FedEx Corp. (NYSE: FDX), plans to locate a new 300,000-square-foot, state-of-the-art distribution facility at the new Tradepoint Atlantic global logistics center at Sparrows Point in Baltimore, Maryland.
The new facility is scheduled to open in August 2017 and is part of FedEx Ground’s ongoing nationwide network expansion plan that has resulted in the addition of 11 major hubs and the expansion of 500 other facilities since 2005.The new distribution facility will join two existing FedEx Ground stations in White Marsh and Halethorpe, enabling the company to continue to meet and exceed customer demands in the Baltimore area. At opening the facility is expected to employ about 150 combined full- and part-time employees with further workforce additions planned as necessary to support increased demand for service in the area.
“As evidenced by our record holiday shipping season, our company is growing,” said Kevin Koken, vice president of Eastern region operations for FedEx Ground. “This new facility will help us meet the increasing demand for our services, which is largely fueled by the surge in e-commerce – not only during the holiday season, but throughout the year.”
“FedEx is the first of many global companies that will set up operations at the new tri-modal port facility at Tradepoint Atlantic. Having such a prestigious tenant sign a long term lease at the site demonstrates the economic impact Tradepoint Atlantic will have for the region,” said Michael Moore, CEO of Tradepoint Atlantic. “As we continue to bring jobs and redevelop the site, we will be known as the premier facility on the eastern seaboard and a true world-class center for business and trade.”
The distribution facility will be located at Sparrows Point in Southeastern Baltimore County, a 3,100-acre site that was formerly a Bethlehem Steel manufacturing plant and is in the process of becoming a major east coast logistics, manufacturing, and transportation hub. The FedEx Ground facility is being built on 50 acres ground leased to developer Scannell Properties, which is developing the distribution facility for FedEx.
“We believe that Tradepoint Atlantic and its resources will be an incredible asset for any company seeking unparalleled access to available land, deep water ports, rail and highways,” said Mark Levy, managing director at JLL, the exclusive real estate provider for Tradepoint Atlantic.
Among its many attributes, Tradepoint Atlantic features:
- A deep-water port, including a turning basin and 1,150-foot pier to accommodate heavy commodities;
- A short-line railroad which serves virtually all of the property on the site and incorporates 100 miles of track connecting two Class I railroads (CSX and Norfolk Southern);
- Immediate access to Interstate 695 (the Baltimore Beltway) providing easy connections to Interstate 95, I-70 and all major eastern U.S. population centers;
- Close proximity to Baltimore/Washington International Thurgood International Airport.
“We are excited to have FedEx Ground as a tenant and will partner closely with them as they finalize plans for their state-of-the-art distribution facility,” said Roberto Perez of Hilco Global and David Watson of Redwood Capital Investments. “We are committed to building a site that will continue to attract top-tier companies and make Tradepoint Atlantic the center of the region’s economy for years to come.”
"With FedEx as the very first tenant at the newly rebranded Tradepoint Atlantic, we mark an important first step in what will be an incredible economic generator for Dundalk, Baltimore County and the entire state of Maryland," said Governor Hogan. "The entire focus of our administration is to grow the private sector, put people back to work, and turn Maryland's economy around. Ventures like Tradepoint Atlantic - and FedEx's new location here - are helping to make that vision a reality."
“Tradepoint Atlantic is making good on its commitment to bringing world-class companies such as FedEx to the Sparrows Point peninsula. New construction jobs are here now as the Fed Ex distribution center takes shape, with 150 more jobs when the facility opens next year,” said Baltimore County Executive Kevin Kamenetz. “We are confident there is potential for more than 10,000 jobs at Tradepoint Atlantic as the global center is built-out over the next decade.”
In 2014, Tradepoint Atlantic (TPA), a joint venture of Redwood Capital Investments and Hilco Real Estate LLC, acquired the Sparrows Point site and plans to re-develop the property into a world-class transportation, manufacturing and logistics hub. TPA is currently in the process of completing the master plan for the site and plans to create a center that will bring jobs to Baltimore County and grow the region’s economy.
JLL is the exclusive real estate services provider for Tradepoint Atlantic.
About Tradepoint Atlantic
Tradepoint Atlantic is the developer, manager and owner of the former Bethlehem Steel Mill, a 3,100-acre industrial site in Baltimore, Maryland that offers a gateway to markets around the United States and the world, featuring a unique combination of access to deep water berths, rails and highways. Ground-breaking agreements signed with federal and state environmental regulators in 2014 to remediate the legacy from a century of steel-making enable the redevelopment of the site with the potential to become one of North America’s most strategic multi-modal, multi-commodity terminals. For more information visit: www.tradepointatlantic.com.
Below are pictures featuring the Hilco Global and Redwood Capital Group executives signing the deal with FedEx Ground and breaking ground on the new Tradepoint Atlantic facilities in Maryland. Also included is a picture of Hilco Global CEO Jeffrey Hecktman posing with the Governor of Maryland.