BALTIMORE, MD — Trammell Crow Company (TCC) along with development partner, Diamond Realty Investments (DRI) has closed on a $26 million construction loan from BMO Harris Bank for the development of North East Commons, a new 716,490 s/f, class A speculative distribution facility located along the I-95 corridor north of Baltimore. Construction commenced Q2 2019 and is scheduled to complete in Q1 2020.
“In recent years, this submarket has seen significant growth in big box industrial development, welcoming high-end, well-known tenants,” said Matt Nunn, vice president with TCC’s NE Metro Business Unit. “The lowest vacancy in decades, combined with a limited number of large parcels along I-95 that can cater to big box tenants has created a favorable environment for new speculative development.”