This Week's Baltimore Deal Sheet
Brazilian steakhouse chain Fogo de Chão has signed a lease in Towson to open its second Baltimore-area location.
Fogo de Chão plans to open its nearly 8K SF location at 825 Dulaney Valley Road in Towson Town Center in late 2024, according to the company. Fogo de Chão's other Baltimore-area restaurant is located on Pratt Street next to the Inner Harbor.
“We look forward to welcoming the Towson community to our newest restaurant, showcasing our latest brand innovations and culinary discoveries for new and existing guests alike,” Fogo de Chão CEO Barry McGowan said in a statement.
Architecture and design agency Harrison fashioned the motif of the Towson location in partnership with the restaurant. Fogo de Chão recently underwent a brand transformation, including enhanced design elements, menu options, and new appliances, such as a dry-aged meat locker.
LEASES
Movement and wellness school Tribe signed a lease with MCB Real Estate for the 6K SF space at 107 E. Preston St. in Baltimore's Mount Vernon neighborhood, with plans to open in April. Co-founders Lola Manekin, Barri DeFrancisci and Gary Grisham created the concept to offer various services designed to "achieve the optimum mind-body connection." Patrick Smith and Chris Boland, vice presidents at MacKenzie Commercial Real Estate Services LLC, represented the landlord in the deal.
DEVELOPMENT
The Baltimore City Council voted to advance three bills on Monday that would the way for MCB Real Estate's proposed overhaul of Harborplace, the Baltimore Banner reports. The council could hold a final vote on the bills as soon as next week. The bills would modify the area's urban renewal plan and remove zoning restrictions preventing the construction of portions of the project, such as a 32-story mixed-use building with up to 1,000 residential units at 303 Light St. However, one of the bills only creates a charter amendment that city voters must approve in November.
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La Cité Development LLC said it received an investment from T.D. Jakes Group supporting the company's work in the West Baltimore neighborhood of Poppleton. It didn't disclose the size of the investment. According to La Cité Development, the company has already invested $102M in constructing two mixed-use buildings in Poppleton.
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A group of residents said they want to prevent the urbanization of Baltimore County and limit the number of mixed-use developments in the jurisdiction during a forum on Tuesday at the Perry Hall Library, WMAR-TV reports. Republican Women of Baltimore County organized the event, which focused on state legislation promoting denser development and more affordable housing. The meeting came on the heels of a Baltimore County Planning Board meeting where hundreds of residents raised concerns about growth in the county.
THIS AND THAT
Brick Bodies Padonia has completed a nearly $3M renovation at Broad Street Market in Timonium. Upgrades at the location include a recovery area with infrared saunas, CryoLounges and a Pure Raw Juice bar. Brick Bodies has operated at the 80K SF Broad Street Market retail center, owned by Hill Management Services Inc., since 2013.
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The MacKenzie Cos. LLC has formed a "strategic alliance" with InspiRE CRE LLC to form an asset adversity group. The partnership is designed to help financial institutions and investors by assisting stakeholders in enhancing the value of distressed and underperforming commercial assets.
