A joint venture between Montclair-based Camber Real Estate Partners (Camber) and PGIM’s real estate business (PGIM) has announced the acquisition of a massive seven-building industrial portfolio in the Greater Baltimore Metro area. The deal, totaling 745,270 square feet, secures a significant foothold in one of the East Coast’s most critical logistics corridors.
The portfolio was purchased from an undisclosed seller for an unspecified price. The properties are strategically distributed across several high-demand Maryland submarkets, including Halethorpe, Jessup, Middle River, Rosedale and Baltimore.
The acquisition underscores a growing institutional appetite for “shallow-bay” and light industrial products. These assets are increasingly prized for their flexibility and rarity, as they are difficult to develop in “high-barrier-to-entry” markets where land is scarce and zoning is restrictive.
At the time of the sale, the portfolio was fully occupied by a diverse roster of 17 tenants, spanning multiple industries. This variety provides the joint venture with a stable, multi-tenant income stream protected against sector-specific downturns.
“This acquisition represents a significant expansion of our footprint in the Mid-Atlantic region,” Christopher Bellapianta, Camber Managing Principal said. “Drawn by the Baltimore industrial market’s incredible resilience and growth, this acquisition demonstrates our focus on securing high-quality, infill assets in one of the most supply-constrained corridors on the East Coast.”
The seven buildings offer seamless connectivity to the Port of Baltimore and the broader Northeast Corridor via immediate access to I-95, I-695, and I-895. This infrastructure makes the assets highly attractive to modern users who prioritize “last-mile” delivery capabilities and functional loading.
Ian Christ, managing director at PGIM, noted that the deal aligns with the firm’s strategy of investing in logistics hubs with strong demand drivers. “The Greater Baltimore area serves as a critical link in the East Coast supply chain, and these assets are well-positioned to benefit from the region’s long-term economic fundamentals,” Christ stated.
The Baltimore industrial sector has remained a bright spot in the regional economy, characterized by low vacancy rates and consistent rent growth. Camber’s leadership expressed enthusiasm for the “flexible configurations” of the buildings, which are designed to accommodate a wide range of parking and loading requirements.
The seller was represented in the transaction by a Newmark team led by Cris Abramson, Ben McCarty, Nick Signor, Henry Pleszkoch and Sam Slater.
