As Under Armour fully transitions to its new Baltimore Peninsula campus this month, there will be a total of more than 700,000 sq. ft. of vacant commercial space between two adjacent complexes in Locust Point.
Under Armour owns the Tide Point complex at 1000 Hull St. The complex is 14.6 acres and has 406,569 sq. ft. of building space. Cross Street Partners owns the Cheer Building at 1450 Beason St. and leases it to Under Armour. The building is 350,000 sq. ft. and sits on 7.152 acres.
This week, an Under Armour spokesperson told SouthBMore.com: “We’re continuing to evaluate the future of our Tide Point properties.”
Previously, when planning its new Baltimore Peninsula campus, Under Armour stated it would sell Tide Point.
Architecture firm Ayers Saint Gross is currently a tenant of Tide Point. The Under Amour Performance Center Powered by FX Well, a gym which was available for memberships and which was used by Under Armour employees, closed last week at the complex.
Tide Point, which was once the site of a Proctor and Gamble plant, has five different brick office buildings that range in height from three to five stories. It also has a recently-built, mostly-glass visitors center and multiple small utility buildings. It has several surface parking lots; a boardwalk along the Inner Harbor of the Patapsco River; a 70-yard turf field; multiple plazas and open spaces, including the Baltimore Immigration Memorial; and a kayak launch.
Under Armour is letting its lease expire on the Cheer Building. It has office spaces, warehouse space, a cafeteria, and indoor parking. It also has surface parking lots on the north and south of the building, and a green space along Haubert St.
Cross Street Partners told SouthBMore.com: “Our development team feels it is too early to discuss the future of the Cheer Building.”
Under Armour’s logos were removed from this week from the Cheer Building and the visitors center.
Under Armour also owns a large parking lot that runs from Hull St. to Andre St. It is surrounded by train tracks and the Inner Harbor to the northeast and blocks of original rowhomes to the southwest. The parking lot currently has many parking spaces rented to locals with campers, RVs, and boats.
Under Armour additionally owns a .172-acre lot (7,492 sq. ft. of land) at 1116 Hull St. and a .3012-acre lot (13,1221 sq. ft. of land) at 1134 Hull St. Both are currently listed for sale with Cushman & Wakefield. 1134 Hull St. was recently the home of the Locust Point Community Garden. Marketing materials show the potential for 14 townhome lots.
While the office market has seen its challenges in the years since the COVID-19 pandemic, local brokers are confident these Locust Point properties are unique and desirable to different suitors.
Terri Harrington, a veteran commercial real estate broker and longtime Locust Point resident, told SouthBMore.com the following about the newly-vacant spaces left by Under Armour: “While office leasing is one of the most challenged sectors in commercials real estate, the sub-markets (Harbor East, Harbor Point, McHenry Row) continue to see activity. I think the Tide Point campus still offers a great option for office leasing for companies who want the ultimate live, work, play environment, which is how the market has been trending post Covid. Also, I think the fact that there are several buildings on the campus provides a variety of different size office space options. Certainly that would be more cost-effective than trying to repurpose the buildings. In my opinion, that would likely be the most desired option for the community as well. It keeps everything the same and doesn’t disturb the current landscape in the neighborhood.”
Jim Chivers, vice president and commercial real estate consultant with Gold and Company and investor in Locust Point, told SouthBMore.com: “The relocation of Under Armour from Locust Point to the Baltimore Peninsula presents a unique opportunity for the neighborhood. This prime property is now open for the next businesses to capitalize on its potential, whether it is a lease or a purchase. Locust Point is poised to attract a variety of new uses to the valuable real estate that will bring fresh energy and success to the area, ensuring its continued growth and investment.”
Under Armour’s new campus and global headquarters in Baltimore Peninsula is on a 59-acre property that was once the Port Covington Shopping Center. The company just opened TMB2, a 280,000 sq. ft. office, retail, and fitness building. The campus also has a track and field facility called The Stadium at The House; a 170,000 sq. ft. office building called Building 37 that was once a Sam’s Club; and the former Walmart building (Building 96) which has been used for warehouse sales, PPE manufacturing, town halls, and retail mockup stores. It also has surface parking lots, landscaped green spaces, and an outdoor basketball court. It is surrounded by the Locke Landing residential development and the mixed-use Baltimore Peninsula development.
Tide Point
Cheer Building
Large Parking Lot
Lot at 1134 Hull St.
