California Developer Plans 169,812 Sq. Ft. Lab and Office Building in Port Covington

| September 8, 2020 | 0 Comments

Pasadena, California-based Alexandria Real Estate Equities, Inc. is planning a six-story, 169,812 sq. ft. lab and office building in Port Covington. The project is a collaboration between Alexandria and The Port Covington Development Team.

This building is proposed for lot E8 on the Chapter 1B Master Plan of the Port Covington project. This lot fronts a newly-aligned Cromwell St. and is adjacent to the northeast of the Rye Street Market complex. Rye Street Market is three connected buildings that make up 275,000 sq. ft. with 185,000 sq. ft. of office space, a 13,000 sq. ft. open-air market and food hall, 50,000 sq. ft. of pedestrian-oriented retail, a 12,000 sq. ft. meeting facility, and a 15,000 sq. ft. rooftop event space.

In its brochure, Alexandria is advertising large floor plates with 28,302 sq. ft. per floor, 15 ft. to 18 ft. ceiling heights, and access to 2.25 parking spaces per 1,000 sq. ft.  The spaces are designed for “mission-critical lab, office, or manufacturing use.”

The rendering shows an all-glass building with steel frames and outdoor spaces on each level.

Alexandria and The Port Covington Development Team did not respond to any requests for comment at this time. SouthBMore.com does not know when this building plans to break ground.

Alexandria was started in 1994 and has found its niche in life science real estate. It has projects in Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and the Research Triangle of North Carolina. Alexandria has 1.6 million sq. ft. of space in Rockville, and 1.1. million sq. ft. of space in Gaithersburg.

The Port Covington Development is a 235-acre, $5.5-billion, multi-decade development in South Baltimore. Infrastructure work for Chapter 1B started in May 2019, was paused in recent months during the COVID-19 pandemic, and will resume this fall when the first round of $148 million in TIF bonds are released to The Port Covington Development Team. Rye Street Market, two apartment buildings, an extended stay hotel, and an additional office building have received planning approvals and are expected to break ground in the first phase of Chapter 1B.

This was first reported by the Baltimore Business Journal 

Rendering from the Alexandria Real Estate Equities, Inc. brochure 

Chapter 1 Site plan courtesy of Weller Development

Chapter 1 rendering courtesy of Weller Development 

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