BALTIMORE, June 5, 2015 /PRNewswire-iReach/—Sparrows Point Terminal LLC (SPT), one of the largest privately owned logistics and manufacturing multimodal sites in North America, has named JLL exclusive real estate services provider for the project. Parsons Brinckerhoff will oversee master planning at Sparrows Point. The 3,100-acre Sparrows Point Terminal property, located in Southeastern Baltimore County, Maryland was formerly a Bethlehem Steel manufacturing plant. In 2014, the site was acquired by Sparrows Point Terminal, LLC, a joint venture of Redwood Capital Investments and Hilco Real Estate, which plans to re-develop the property into a world class transportation, manufacturing and logistics hub. “The selection of an exclusive broker and master planning firm is a significant step as we continue to redevelop Sparrows Point into an economic generator for the county, state, and region. We look forward to working alongside JLL and Parsons Brinckerhoff as we plan the redevelopment and reposition Sparrows Point to compete in today’s marketplace,” said Mike Pedone, COO of Sparrows Point Terminal. “We are in the process of making important site upgrades that will make Sparrows Point even more attractive to potential companies seeking to locate operations here.” Among its many attributes, SPT 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); and
- Immediate access to Interstate 695 (the Baltimore Beltway) providing easy connections to Interstate 95, I-70 and all major eastern U.S. population centers.