This Week's Baltimore Deal Sheet
A Maryland board's decision to transfer ownership of the 14-acre Pikesville Armory campus to Baltimore County clears the way for a $100M redevelopment of the site.
The decision from the Maryland Department of Public Works allows the Pikesville Armory Foundation, in partnership with Seawall Development and Onyx Development, to advance with the proposed overhaul. Plans call for turning the historic building on Reisterstown Road near the city line into a multi-use venue for recreation, arts and other community programming.
"The Pikesville Armory redevelopment is a once-in-a-generation opportunity to bring together Baltimoreans from all walks of life; we believe this will be a transformative project that both honors the history of this property and turns it into a valuable community gathering place for generations to come,” Seawall's Peter DiPrinzio said in a statement.
The first step in transforming the 120-year-old armory, which is included on the National Register of Historic Places, will be the renovation of the building's noncommissioned officers club, according to the foundation.
The Pikesville Armory Foundation has scheduled a series of community tours of the campus intended to solicit input on plans and programming. The next tour dates are slated for Oct. 7 and Oct. 29.
SALES
Kenwood Management Co. purchased a single-story building with more than 19K SF of offices at 9011 Chevrolet Drive in Ellicott City for $3.25M from KMS Associates. MacKenzie Commercial Real Estate Services' Owen Rouse and David McClatchy represented the seller. Kenwood Management was self-represented.
***
Excelsa Properties purchased Concord Park at Russett, a 335-unit multifamily property at 7903 Orion Circle in Laurel, for $105.5M from an undisclosed seller. Excelsa Properties plans $4.4M in upgrades, including HVAC improvements, a new roof and parking garage repairs as part of its value-add acquisition.
LEASES
Lee & Associates|Maryland expanded its lease at 8840 Stanford Blvd. in Columbia to 4,800 SF. The expansion coincides with the 10-year anniversary of the group’s founding. Allan Riorda and Tom Whelan founded Lee & Associates|Maryland, which employs five brokerage professionals who have been with the team since its inception.
***
St. John Properties has inked Pickleball House to a 27K SF lease at its mixed-use Greenleigh development in Middle River. Pickleball House's ownership group includes Gil Schuerholz, Bill Henderson and Joe Opauski. The deal marks the third St. John Properties asset that is leasing space to a pickleball facility, following the recently opened PutAway at the I-97 Business Park in Millersville and the Baltimore Pickleball Club, which is expected to open at Timonium Exchange later this year.
THIS AND THAT
Wells Fargo committed $300K over three years to La Cité Development to support the Edgar Allan Poe House & Museum in Baltimore's Poppleton neighborhood. The developer is redeveloping nearly 33 acres in the West Baltimore community via its Center/West project.
