The Middle River Depot or "Aviation Station" in Middle River, MD.
MIDDLE RIVER, MD – Blue Ocean has finalized its purchase of The Middle River Depot, the largest industrial building in the state of Maryland.
Located in Eastern Baltimore County, the 2 million-square-foot facility, branded as "Aviation Station," holds historic significance, as it previously served as a manufacturing factory for B-26 bombers and other aircrafts during World War II.
Planning a transformative repurposing project, Blue Ocean intends to honor the historic facility, housing industrial users, manufacturers and fabricators on site, while incorporating retail, office, sports and recreational-oriented tenants.
The mixed-use project is expected to become one of the largest real estate Opportunity Zone developments in the Mid-Atlantic, while additionally spurring economic development by creating thousands of jobs in the area.
With a strategized program to create a modernized retail and leisure destination and experience, Blue Ocean plans to announce several anchor tenants joining the project in the near future.
Local community bank, Eastern Savings Bank provided acquisition financing to Blue Ocean, which will additionally assist in jumpstarting the property's development. CBRE's Mid Atlantic Institutional Group oversaw the sale of the facility to Blue Ocean.
Blue Ocean, founded in 2004, is a Baltimore-based real estate investment, management and development company. The firm's portfolio consists of a variety of property sectors, totaling $450 million.
Eastern Savings Bank is an FDIC-insured community bank, headquartered in Hunt Valley, MD, which specializes in residential and commercial portfolio mortgage loans.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
