October 1, 2025

St. Mary’s County, MD – Commercial Development Company, Inc. (CDC) is pleased to announce the sale of a 300-acre reclaimed bulk oil storage terminal, located at Piney Point, Maryland. CDC 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.

For over 80 years, Piney Point was operated by a major North American petrochemical manufacturer which stored and distributed liquid commodities such as crude oil, gasoline, jet fuels, and other petroleum products.

Decades of bulk storage operations prohibited a traditional real estate transaction. An environmental liability transfer and redevelopment plan proposed by CDC created a pathway for new life at the property. Since acquisition, CDC affiliate EnviroAnalytics Group LLC (EAG) has been engaged with environmental regulators to bring the property to a development-ready state.

OAG’s site development plans include: expanding commercial manufacturing of its 16 type model series unmanned systems to the site; re-opening the runway and establishing a private use airport to support commercial manufacturing; building commercial hangars for defense contractors and universities; and revitalizing the 1,200-foot industrial pier to serve its growing fleet of offshore supply vessels.

Piney Point originally served as a torpedo test facility and naval aviation base during World War II before being converted to petroleum storage. The property features exceptional maritime infrastructure, including deep-water piers and direct access to the Chesapeake Bay.

“This is more than an investment in infrastructure — it’s an investment in the future of St. Mary’s County,” said Robert Hicks, CEO, Offshore Aviation Group (OAG). “We are honoring Piney Point’s legacy as a WWII naval test site while ensuring it remains a centerpiece for innovation, jobs, and leadership in unmanned technology.”

“The Piney Point project demonstrates the viability of the ELT/CDC 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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About Commercial Development Company, Inc.

Commercial Development Company, Inc. (CDC) is a privately-held, diversified real estate acquisition and development firm whose principal competency lies within the acquisition, repositioning, and redevelopment of underutilized, distressed or environmentally-challenged properties. CDC has purchased and developed over 50-million-square feet under roof located on over 300 sites throughout the United States and Canada. For more information, visit www.cdcco.com.

About Environmental Liability Transfer, Inc.

Environmental Liability Transfer, Inc., (ELT), an affiliate company of Commercial Development Company, Inc., is a comprehensive, environmental liability assumption company providing its clients complete and final environmental liability transference services.  ELT has successfully assumed and abated nearly $2 billion in corporate environmental liability throughout North America. For more information, visit www.eltransfer.com.

About Offshore Aviation Group (OAG)
Offshore Aviation Group is a veteran-owned Maryland-based company specializing in maritime services, unmanned aerial systems, and warfighter training. With a growing fleet of Offshore Supply Vessels and vast expertise supporting defense and commercial clients, OAG is committed to advancing America’s maritime and unmanned systems capabilities. https://offshoreaviation.com