This Week's Baltimore Deal Sheet

The Howard Hughes Corp. celebrated the start of construction Tuesday on a $45.8M, four-story medical office building in Columbia’s Lakefront District. 

The developer called the groundbreaking a “major milestone” in revitalizing the Lakefront District along Lake Kittamaqundi. The overhaul of the district is part of Howard Hughes' $5B, 30-year plan for Downtown Columbia.

The plans for the Lakefront District envision as much as 3M SF of redevelopment, including 1.3M SF of office, 281K SF of retail and 1,284 residential units. Plans also call for two new parks. 

Orthopedic Associates of Central Maryland will occupy 25% of the 86K SF medical office building at 10285 Little Patuxent Parkway. The project is adjacent to the former Rouse Co. headquarters now occupied by Whole Foods. 

"This state-of-the-art medical office building will be a significant addition to Downtown Columbia and the Lakefront District,” Greg Fitchitt, president of the Columbia region at Howard Hughes, said in a statement.  

SALES

Real estate investment firm Faropoint said Wednesday it purchased $28.6M worth of suburban Baltimore industrial space. The acquisition of nearly 220K SF across four properties marks Faropoint’s first venture into the Baltimore metro area.

The properties include an 82K SF building at 176 Red Branch Road in Columbia, a 59K SF property at 6704 Curtis Court in Glen Burnie, a 30K SF asset at 8361 Town Center Court in Nottingham and a 48K SF building at 7120-7132 Ambassador Road in Milford Mill.

CONSTRUCTION

Northrop Grumman Corp. plans to open a new 60K SF facility next year at its Elkton campus to produce hypersonic weapons, according to the Baltimore Sun. A division of the Air Force Research Laboratory awarded an $8.8M contract to help the defense contractor expand its campus so it can make the new weapons more easily and cost-effectively.  

LEASES

Chesapeake Veterinary Referral Center has inked a deal with St. John Properties for 46K SF at Yorkridge Center North in the Cockeysville area of Baltimore County. The company intends to relocate its roughly 150 employees from Towson to 10626 York Road in the spring. The specialty veterinary concept plans to operate a hospital and emergency center in the nearly 56K SF flex/R&D building.  

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Jewelry-maker Pandora is relocating its U.S. headquarters from Baltimore to New York, according to the New York Post. It signed a nearly 28K SF lease at the former Bertelsmann Building in Times Square. Earlier this year, Pandora said it was looking to sublease space at its 250 West Pratt St. offices in Baltimore, which still feature the company’s branding. 

THIS AND THAT

The Baltimore Department of Real Estate said it signed off on a 90-day exclusive negotiating privilege contract with real estate development firm Marbray & Company Realty to overhaul the historic mansion at 2001 Park Ave., according to The Daily Record.

The city issued a request for proposals for the 15,194 SF stone mansion in the city’s Reservoir Hill neighborhood. It is the oldest structure in the community — dating back to 1792 — and is designated a Baltimore City Landmark. It has been known as the Birckhead Estate, the Bond House, Mount Royal, Norse Hill Home and the Norwegian Seaman’s Merchants Home.

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The facade of the closed Target store at Mondawmin Mall is slated for demolition, according to the Baltimore Business Journal. It is part of a $25M plan to convert the former store into a community center serving West Baltimore.