Completing a move that can make a difference for a community is rarely without challenges.
S.H. Bell Co. faced them in spades but persevered, earning its expansion in Baltimore a 2025 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The family-owned cargo-handling and -storage company sought to consolidate operations in two aging logistics centers but finding the right site was not easy. The company, which stores and transports steel and other raw materials, needed access to the Port of Baltimore, rail lines and a robust highway network. There were few properties available, given the high demand for logistics properties these days.
The property it eventually found — a state-of-the-art, 447,448-square-foot facility at a sprawling industrial park known as Tradepoint Atlantic — was not even on the market. But the then-tenant — a company that had a contract to make rubber gloves during the pandemic — had ceased operations and no longer needed the space. Then, as S.H. Bell was finalizing the transaction, the company was acquired by shipping terminal owner Associated Terminals and the new owner had to decide whether to move forward.
Given the green light, S.H. Bell faced one more major challenge. As it set out to move in, a Singapore-registered container ship struck one of the main piers of Baltimore's Key Bridge, forcing a collapse that closed off the port to shipping. S.H. Bell ultimately chose to stay the course.
"The fact this company has been operating in Maryland since 1933 and expanded their footprint in the Port of Baltimore, one of the largest economic engines in Maryland, earned them my vote," said Terri Harrington, managing principal at Harrington Commercial Real Estate and an Impact Award judge. "Their investment in new state of the art technology will, no doubt, ensure an even longer-term commitment to the Port. In addition, net new space at Tradepoint Atlantic is also win!"
About the project: Tradepoint Atlantic, spanning 3,330 acres, was previously known as Sparrows Point, formerly the site of the Bethlehem Steel Sparrows Point Shipyard and steel mill.
What the judges said: "S.H. Bell had a very unique need, taking advantage of rail, deep water access, and large space allowing for operational growth. They took 447,000 square feet which was certainly a catalyst for economic activity. The purpose-built design in an off-market space was unique," said Lacey Johansson, assistant vice president for leasing at St. John Properties.
"This one overcame more bumps in the road on its way to becoming successful; that to me says something positive about the brokers and principals involved. There are a hundred ways for a deal to go wrong (101 if we include major bridge collapses) and one way for it to go right, " said Art Putzel, principal at the real estate firm Trout Daniel & Associates.
They made it happen: Cresa's Scott Wingrat, principal and founding member, and Matt Sacks, senior advisor, represented S.H. Bell.