California-Based Life Sciences Developer No Longer Involved in Baltimore Peninsula Project

| July 17, 2023 | 0 Comments

Pasadena, California-based Alexandria Real Estate Equities, Inc. (ARE), which was planning a six-story, 169,812 sq. ft. lab and office building in Baltimore Peninsula (called Port Covington at the time), is no longer involved in the project. The spec office building, which was advertised for lease in Summer 2020, was a collaboration with The Port Covington Development Team.

The building was proposed in the E8 lot of the Baltimore Peninsula Chapter 1B Master Plan. This is located just east of the recently-completed Rye Street Market office and retail building.

MaryAnne Gilmartin of MAG Partners, a development partner of the Baltimore Peninsula development team, confirmed to last month that ARE is no longer planning the building.

Baltimore Peninsula recently completed five new buildings in Chapter 1B. Gilmartin told in May it will be very hard to get any new buildings off the ground this year due to the current market conditions.

The neighborhood is not without new life sciences spaces, however, as the 135,000 sq. ft. City Garage building was acquired by South Duvall in 2021 and rebranded as the City Garage Science & Technology Center. It was previously owned by Baltimore Peninsula development team partner Sagamore Ventures.

Haystack Oncology is opening a 20,000 sq. ft. lab in the building while 45,049 sq. ft. of space is still available in the building, according to a leasing brochure. The available spaces are large due to Under Armour recently vacating a 70,000 sq. ft. space in the building and Weller Development vacating a 16,538 sq. ft. space.

Rendering from the Alexandria Real Estate Equities, Inc. brochure 

Chapter 1 Site plan courtesy of Weller Development

E8 pad site 

Baltimore Peninsula picture 

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