ELT Announces Sale of Bulk Oil Storage Terminal; Buyer Plans Unmanned Aviation & Maritime Development

CDC/ELT are pleased to announce the sale of a 300-acre reclaimed bulk oil storage terminal, located at Piney Point, Maryland. ELT affiliate Piney Point LLC acquired the property in April 2023 and has been engaged in pre-development activity since that time. New owner Offshore Aviation Group (OAG) plans to transform the site into a world-class center for unmanned systems development, testing, and operations.

“The Piney Point project demonstrates the viability of the CDC/ELT acquisition model, which assumes environmental liabilities from sellers while unlocking the true value of shuttered properties which would otherwise remain in a state of decay,” said Stephen Collins, Executive Vice President at CDC.

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ELT recently completed and sold the remaining parcel in a long-term environmental reclamation project in Perth Amboy, New Jersey. In 2009, ELT purchased a 250,000 SF retired smelting facility on 70 acres and assumed legacy environmental liabilities at the site. Working under New Jersey’s Industrial Sites Hazard Act, ELT oversaw environmental remediation and demolition of existing structures on the site and developed an action plan to redevelop the site. In 2022, portions of the site were sold to a development company who built a 1,000,000+ SF manufacturing and distribution center. ELT and affiliates were able to modify the remediation plan to comply with the purchaser’s plan to reuse the site. The remainder of the site was recently sold to K-T Marine who will use the site for marine construction services.

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• MILWAUKEE, WI: 26-Acre Manufacturing Campus w/ Potential for Self-Storage, Industrial Storage, Warehousing, Manufacturing, and Industrial Applications Download Brochure »



• AUGUSTA, GA: Up to 109 Acres of Industrial Land Available, Located Near Several National Chemical Companies, Site Demolition Underway Download Brochure »

• TRENTON, NJ: 5-Acre Industrial-Zone Land, Near NJ Transit with Rail to NYC and Philly, 5,000 Passengers Daily, Rare find in the NJ Market Download Brochure »

• TRENTON, MI: 110 Usable Acres, Multiple Development-Ready Lots, Two Rail Spurs Onsite with Service to Class-1 Rail, Fence-Secured Rock Parking Lot, Strong Infrastructure, Access to Heavy Power Download Brochure »

• SAN FRANCISCO, CA: An exceptionally rare 7-acre industrial site with immediate proximity to the San Francisco International Airport. All tanks, piping, concrete removed. Download Brochure »

• PORTLAND, OR: 49-acre industrial site with 6 well-maintained warehouses ready for occupancy. On-site rail spur serviced by UP, a 17-MW substation, and located 5 miles from the Port of Portland.

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• CLAYMONT, DE: Multi-faceted project featuring 3.75 MSF of new construction – industrial, residential, retail, office, and a new nature park with walking trails. Anchored by newly-constructed $90 million transit center, which connects to Philadelphia and neighboring metro areas. Read More »

• BRAYTON POINT, MA: Up to 90 Acres of Waterfront Land Available, Deepwater Port with 34-ft Depth, 82,000 SF Manufacturing Building with Two 100-Ton Cranes, 20,000 SF Warehouse on 4 Acres Download Brochure »

• LAWRENCEBURG, IN: 36 Acres Usable, 750 Total Acres, Multi-Modal Development Potential, Rail, Barge, Truck, Potential for Agriculture, Aggregates, Data Center, Laydown & Storage Download Brochure »

• SAN ANTONIO, TX: 90-acre development ready site in San Antonio, suitable for last mile distribution center, warehousing, data center, more. Download Brochure »

• MEREDOSIA, IL: 93-acre Industrial Site, 800-ft Dock Line on Illinois River, Access to Heavy Utilities, Norfolk Southern Rail Spur Nearby Download Brochure »

• NEWBERG, OR: 220-acre former paper mill site, now demolished, regraded and ready for development – residential, retail, mixed-use, and light industrial. Download Brochure »

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