Infill Dev. Opp. | Gateway to Harbor East 923-937 Eastern Ave 826 m² Inoccupé Local commercial Vente aux enchères en ligne Baltimore, MD 21202

A prime 0.318-acre infill development opportunity (the “Property”) in Baltimore’s most exclusive waterfront neighborhood. This outstanding development opportunity is located at the gateway of Harbor East, the most desirable neighborhood on Baltimore’s waterfront, with access to exclusive retail, restaurants, and unparalleled amenities such as the Four Seasons Hotel, Spa, and Condominiums, a 50,000-square-foot Whole Foods Market, and Pier Six Concert Pavilion. The Property’s location adjacent to Baltimore’s charming enclave of Little Italy, within the vibrant urban neighborhood of Harbor East, will be attractive to millennials, empty nesters, and high-income urbanites.

When compared to other submarkets in the region, Harbor East commands the highest rents in the area, on par with the Ballpark District, Southwest Waterfront, and City Center in Washington, DC. Harbor East is also the best Class A submarket in the greater Baltimore region, with notable multifamily owners including JP Morgan, Hanover, GID, ZOM Residential, Sentinel, UDR, and Bentall Kennedy, and developers including Dolben, Bozzuto, and Beatty Development. This rare opportunity in one of the most heavily sought-after locations in the metropolitan area is well-positioned for development into retail, office, or multifamily.

PREMIER LANDMARK NEIGHBORHOOD
Harbor East is Baltimore’s trendiest neighborhood, offering a vibrant live-work-play environment in the nation’s 17th largest market and Maryland’s corporate, legal, and financial epicenter. Just south of Harbor East is a new 48-acre development called Harbor Point, which features several million square feet of mixed-use development. Harbor East / Harbor Point combined is an extraordinary master-planned, mixed-use waterfront district situated just east of Baltimore’s world-famous Inner Harbor. Just north of the property is Baltimore’s storied Little Italy neighborhood, featuring some of the area’s top restaurants scattered throughout a charming residential neighborhood. East of the Property is Baltimore’s Fells Point neighborhood, one of Baltimore’s most popular historic waterfront neighborhoods. Fells Point’s waterfront location offers a unique amenity base with over 120 bars and restaurants. Fells Point is rich in history, offering architecturally distinct buildings, historic inns, traditional storefronts, and converted warehouses, as well as Baltimore’s oldest public market.

IRREPLACEABLE LOCATION
With a location at the intersection of Fleet Street and Central Avenue, the Property sits at the epicenter of Harbor East / Harbor Point, Little Italy, and Fells Point. The Property’s location offers a unique address and direct access to the finest amenity base in the region. This prime location is near, but not located directly in, Baltimore’s Central Business District and provides easy access to I-95 South to Washington, DC, and I-83 North to Baltimore County.

STRONG MARKET FUNDAMENTALS
The Property is located in one of Baltimore’s best office micro-markets, which has maintained pre-pandemic rents and been the beneficiary of over 2.2 million square feet of leasing activity since 2019 and over 4 million square feet of leasing in the last 10 years.

PROXIMITY TO MAJOR EMPLOYERS
Residents can walk, bike, drive, utilize the free Charm City Circulator bus, or take a water taxi to the headquarters of businesses such as T. Rowe Price, Brown Advisory, Under Armour, and Exelon. The Property’s proximity to major medical schools and world-class hospitals, employing more than 42,000 at Johns Hopkins and the University of Maryland Medical Center, creates an affluent renter base.

AMONGST SUBSTANTIAL CAPITAL INVESTMENT
The Property is positioned within 8.7 million square feet of retail. The neighborhood offers tenants and residents architecturally savvy buildings, numerous hotels, including a 250-key Four Seasons Hotel and Residences, premier restaurants, the best fitness facility in the city, and top national/regional retail brands including Under Armour, Bonobos, Whole Foods, J.Crew, Free People, South Moon Under, Anthropologie, Madewell, Lululemon, Warby Parker, and more. Within a short walk of the property are some of the nation’s most highly regarded tenants, including Morgan Stanley, Johns Hopkins, RSM US, and the 444,000-square-foot corporate headquarters for Exelon Corporation (NYSE:EXC). In March, T. Rowe Price officially opened its new global headquarters 0.4 miles south of the Property. The two-building facility in Harbor Point totals 550,000 square feet and will be home to over 2,000 employees. All of this lends itself to a vibrant feel that extends well beyond a typical “9-5” workday. East of the Property in Fells Point, at a cost in excess of $70 million, Kevin Plank’s real estate company, Sagamore Development, renovated a 19th-century recreation pier into the 128-room boutique Pendry Hotel. This Montage brand luxury hotel is the first on the East Coast and has won multiple prestigious design awards.

Property tours are available by appointment only. Please contact the broker to schedule.