CBRE Investment Management Acquires Peppermill Logistics Center in Baltimore-Washington Corridor
CBRE Investment Management has acquired Peppermill Logistics Center, a Class A logistics facility totaling approximately 107,000 square feet in the Baltimore-Washington Corridor, the firm announced Aug. 12, 2026. The acquisition was made on behalf of a separate account client. Financial terms, including the sale price and cap rate, were not disclosed.
Property Specifications and Location
Peppermill Logistics Center was completed in mid-2024 and is 100% leased to investment-grade tenancy. The building features a 32-foot clear height, 27 fully equipped dock doors, 131 car parking spaces, a 180-foot truck court, and LEED Silver certification. The property is designed to accommodate either single-tenant or multi-tenant occupancy.
The facility is situated between Washington and Baltimore, less than one mile from Baltimore/Washington International Thurgood Marshall Airport — the region's busiest airport by passenger and cargo volumes. The location provides access to several of the Mid-Atlantic's core transportation arteries, including I-95, MD-295, I-195, I-97, Route 1, and Route 100.
Strategic Rationale
"We're excited to add Peppermill Logistics Center to our portfolio, further expanding our logistics platform in the Mid-Atlantic," said Christopher Sullivan, Director, Americas Direct Logistics Team at CBRE Investment Management. "This acquisition reflects our continued focus on acquiring high-quality, strategically located logistics assets in key coastal gateway markets. We are confident Peppermill Logistics Center's modern functionality, investment-grade tenancy, and premier location position the asset to deliver durable long-term value."
Sullivan added that the property represents "a unique opportunity to acquire a 100% leased Class A logistics asset with long-term investment-grade tenancy at an attractive risk-adjusted return in one of the most supply-constrained logistics markets in the country."
Market Context
CBRE Investment Management characterized the Baltimore-Washington logistics corridor as a market defined by strong leasing fundamentals and deep capital markets liquidity, describing it as one of the most competitive transaction markets on the East Coast. The corridor's constrained supply environment has made stabilized, newly delivered assets particularly attractive to institutional buyers seeking durable income streams.
At approximately 107,000 square feet, Peppermill Logistics Center sits in the mid-size logistics segment, which tends to capture deep tenant demand in dense coastal infill markets. The property's proximity to BWI Airport adds relevance for tenants requiring fast regional distribution and air-cargo adjacency.
The Peppermill acquisition is consistent with CBRE Investment Management's broader 2026 activity in essential-use property types. The firm also completed a 149-unit senior housing acquisition in Chicago and a seven-property grocery-anchored retail portfolio during the same period.
About CBRE Investment Management
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE: CBRE). As of June 30, 2026, the firm reported $154.8 billion in assets under management across 20 countries. CBRE Group employs more than 155,000 people serving clients in more than 100 countries.
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