BALTIMORE--Tradepoint Atlantic, a 3,100-acre multimodal industrial site, is expanding its concept to include the development of a 130-acre mixed-use retail park that will be called The Shoppes at Tradepoint Atlantic. JLL, which has been tapped for the leasing, is in active talks with 85 or so retailers for the project, Greg Ferrante, Senior Vice President of JLL, who has been retained for retail leasing of the property, tells GlobeSt.com.
“We are in conversations with a variety of retailers that have a deep interest in being here,” he said. The top choice, at least for an anchor, would be a 50,000-square foot grocery store, Ferrante added, as this particular part of Baltimore is something of a “food desert,” he said.
Ferrante noted that JLL research shows that $68 million leaves the area each year because of a lack of retail options.
Tradepoint Atlantic is the former Sparrows Point.
The Shoppes at Tradepoint Atlantic is not being built on spec and Ferrante anticipates that enough leases will be in place that the developer can begin work on making the pad sites ready for delivery within the next four months.
There will be seven free-standing retail pads with one designated for a gas station or convenience store.
Asking rates vary significantly, he said, declining to give details.
Other Tenants
FedEx has signed a lease for a 300,000-square-foot distribution facility and Harley-Davidson of Baltimore is relocating a training center to several acres in the industrial park at Tradepoint Atlantic. Pasha Automotive Services also recently announced plans for an automobile processing terminal.
BALTIMORE--Tradepoint Atlantic, a 3,100-acre multimodal industrial site, is expanding its concept to include the development of a 130-acre mixed-use retail park that will be called The Shoppes at Tradepoint Atlantic. JLL, which has been tapped for the leasing, is in active talks with 85 or so retailers for the project, Greg Ferrante, Senior Vice President of JLL, who has been retained for retail leasing of the property, tells GlobeSt.com.
“We are in conversations with a variety of retailers that have a deep interest in being here,” he said. The top choice, at least for an anchor, would be a 50,000-square foot grocery store, Ferrante added, as this particular part of Baltimore is something of a “food desert,” he said.
Ferrante noted that JLL research shows that $68 million leaves the area each year because of a lack of retail options.
Tradepoint Atlantic is the former Sparrows Point.
The Shoppes at Tradepoint Atlantic is not being built on spec and Ferrante anticipates that enough leases will be in place that the developer can begin work on making the pad sites ready for delivery within the next four months.
There will be seven free-standing retail pads with one designated for a gas station or convenience store.
Asking rates vary significantly, he said, declining to give details.
Other Tenants
FedEx has signed a lease for a 300,000-square-foot distribution facility and
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
