Business Expansions and Attractions
Sampling of County Business and Real Estate Activity, January 2013 to April 2014
The following list highlights a selection of business and real estate activity in Baltimore County from January 2013 to April 2014. Obtain a list of new corporations here.
The Federal Savings Bank – A federally chartered Chicago-based bank, focused on home lending has relocated its Columbia loan production office to Timonium. It’s looking to hire up to 30 people in this new location.
Hardesty Capital Management – In September 2014, a boutique investment firm moved from Mount Vernon in Baltimore City to a new 5,765-square-foot office on International Drive in Hunt Valley.
RPM – A warehouse and distribution coffee importer in the mid-Atlantic region signed a lease for a 274,000 square foot building at 8411 Kelso Drive in July 2013. Importer brings 30 new jobs to the County and over $3 million capital investment.
J.O. Spice Company – A manufacturing company located in Halethorpe has signed a lease to expand by adding 17,000 square feet of additional space to their current facility. Expansion will result in the creation of two jobs and a $500,000 capital investment.
G. 1440 – An information technology company relocated from Woodberry in Baltimore City in November 2013 to the 9,000-square-foot former Zynga space in Timonium added 70 jobs.
Towson Square (formerly known as Towson Circle III) – This is a new mixed-use project in Towson developed by the Heritage Properties and Cordish Company joint venture. The four-acre development now under construction includes a 75,000-square-foot, 3,400-seat, 15 screen multiplex cinema atop a three-story, 850-space garage and seven restaurants. The open, pedestrian-friendly plaza will include a traffic circle with a European-style fountain, bistro-style outdoor dining areas and landscaping. The County is investing $6.2 million toward the parking garage and $2 million for infrastructure improvements, which will leverage $85 million in private investment. Opened in fall 2014, the project brings an estimated 1,530 jobs to the area, 660 on the construction side and another 870 other jobs when the project is entirely operational.
Towson Residential - Since 2008, over 1,200 new luxury apartment units in three major projects have been completed.
Wood Partners has teamed with Chesapeake Realty Partners to develop The Winthrop, which will consist of 295 units. Lease-up will commence May 2014. A second phase, developed by Wood Partners and Taylor Property Group, will comprise 175 units. The apartments will be owned and operated separately, but their design is complementary. These buildings will replace a 70-year-old, 150-unit apartment complex and will triple the site’s density. In April 2013 it was announced that a proposed $60 million, 611-bed, 248-unit student housing project with first-floor retail would be built at 101 York Road.
Towson Commons – This office and retail building in the center of Towson was purchased by Garrison Investment Group and plans are underway for renovations to the vacant ground floor retail spaces. Leasing is expected to pick up as a result of the change in ownership and commitments by the following two major tenants:
- General Dynamics Information Technology (formerly ViPS) – The largest tenant in Towson Commons, has expanded its leased space from 120,000 square feet to 146,000 square feet to accommodate a consolidation from two other locations in the County.
- LA Fitness – A national chain fitness club completed renovations on the former movie theater space in Towson Commons to create a new 52,700-square-foot, state-of-the-art facility including an indoor pool. The facility is now open and renovations are complete.
Towson Row - In June 2013, plans were unveiled for a transformative, $350 million mixed-use development at the southern gateway to downtown Towson, one block from Towson University. The development program calls for 200,000 square feet of Class A office space, 350 luxury residential units, 200 limited-service hotel rooms, 300 quality student housing units and more than 100,000 square feet of retail, shops, restaurants and anchored by the 45,000 square foot Whole Foods Market grocery chain. Demolition of vacant buildings on site will begin in 2015.
Sale of County Properties – In December 2013, the County Council approved the sale of three functionally obsolete County properties housing two police stations and a fire station, located on heavily traveled commercial corridors in Randallstown, Towson and Dundalk. The Towson and Dundalk properties are awaiting the approval of Planned Unit Development (PUD). The profit from the sale of these properties will help defray the cost of new replacement buildings and generate new property tax revenue, in addition to providing jobs and economic stimulus. In Dundalk, Vanguard Commercial Development will redevelop a portion of the property into a restaurant-retail-recreational town center to be known as “Merritt Pavilion.” Merritt Pavilion is envisioned as a family-friendly destination and would have 12 separate buildings spread over 12 acres. It is anticipated to include restaurants, fast casual dining establishments, an ice cream or frozen yogurt shop, an urgent care medical facility, a convenience store and gas station facility, a drive-in fast food restaurant, and other not yet defined retail. Along with the $2.1 million purchase price, the annual property tax at full build-out is anticipated to be approximately $76,172. The proposal also allows recreation programs at the site to continue uninterrupted and adds other recreational amenities. In Towson, CVP-TF, LLC will add a convenience store and gas station, as well as approximately 10,000 square feet of retail strip and a 4,200 square foot restaurant pad site. Retail uses include a drive-in fast food restaurant, a fast casual restaurant, and a bank. The property was purchased from the County for $8.3 million and will add annual property tax revenue of approximately $26,125. In Randallstown, 101 Development Group, a wholly-owned subsidiary of Genesis HealthCare LLC, purchased the County property that joins its neighboring senior nursing center for $275,000. The Development Group will raze the existing building and construct much needed additional parking.
Metro Centre at Owings Mills – Metro Centre at Owings Mills is a mixed-use, Transit-Oriented Special Taxing District that is being developed by Owings Mills Transit, LLC through the use of Tax Increment Financing. The project would support more than 1.2 million square feet of commercial office space; 300,000 square feet of complementary retail space; 1,700 residential units; educational facilities totaling 120,000 square feet and a hospitality component offering up to 250 rooms. The project adjoins the Owings Mills Metro stop and a 2,865-space commuter parking garage. Total investment in the project is expected to be $550 million at completion. Completed is the 120,000 square foot County Campus that includes a County library, a community college building, and two five-story upscale residential buildings with 232 apartments and ground-floor retail and restaurant space. A second large parking garage with 2,412 spaces is now under construction. In December 2013, the County approved the addition of a 13-acre north parcel to the district, bringing the total size of the district to more than 45 acres. The new parcel will support more than 666,000 square feet of commercial office space, 19,000 square feet of retail space, and two additional parking garages totaling 4,577 parking spaces.
Foundry Row – This planned mixed-use development in Owings Mills will be anchored by a Wegmans grocery store, including 356,000 square feet of retail space and 48,000 square feet of office space. It is expected to represent a $140 million investment. The demolition and site preparation are in process and the project is slated to open in 2016.
Miller’s Minuteman Press – This graphic design, print and mailing company is centralizing its production facility and expanding services. In April 2014 it was announced the printing press will move from Cockeysville to its new $5.2 million, 36,450-square-foot one-story facility in Owings Mills. This move will allow the company to expand its workforce by about 30 percent.
Reliable Churchill – The largest wine and spirits distributorship in Maryland is locating its headquarters, office and warehouse operations to Baltimore Crossroads. A new 449,200-square-foot building will be built to complete the consolidation. Reliable plans to transfer over 500 associates to the new location. The facility opened in September 2014.
DuClaw Brewing Company – DuClaw leased space on Yellow Brick Road in Rosedale for a brewing operation that will supply beer for their popular brew pub chain, produce beer for retail sales through distributors, and provide bottling services for other brewers.
BECO Management - The Rockville-based real estate management company purchased two office buildings located at 10451 and 10461 Mill Run Circle adjacent to Owings Mills Mall. The company is investing $15 million in improvements to the two properties. There is a resurgence of leasing activity as a result of renovations.
Apex IT Services - This IT solutions provider to federal, state and commercial clients relocated from Columbia, Maryland to leased office space on Lord Baltimore Drive in Woodlawn. Plans include adding 53 jobs.
Douron Commercial Interiors - Occupied its new headquarters, showroom and warehouse at 10 Painters Mill Road. The renovation of the 100,000-square-foot former flavorings manufacturing plant has allowed the company to consolidate several warehouses and provide space for a new showroom. The company currently employs 118 people.
Greater Baltimore Board of Realtors - A membership services organization for residential realtors, signed a lease for 7,798 square feet of office space at Timonium Two on Greenspring Drive, its new headquarters location.
Ruby Tuesday - The national chain casual dining restaurant built a new 175-seat, 5,000-square-foot restaurant on Liberty Road in Randallstown. It opened in October 2014 and employs 60 to 80 people.
Heavy Seas Brewing - recently made a major investment to expand its Halethorpe based brewery. The investment includes new tanks, a new bottling line and a new tasting/hospitality room. The new tasting and hospitality room which opened in November 2013 features an outdoor seating area and is open to the public Wednesday through Saturday. Future investments include a new $2.5 million brewhouse. With all of these additions, Heavy Seas expects to increase capacity by 130 precent.
Collins Seafood and Grill - New family run restaurant opened on Offutt Road in Randallstown investing $850,000 and employing 40 people.
New Tenants at bwtech@UMBC Research and Technology Park:
- Potomac Photonics – An advanced micro-manufacturer specializing in small hole drilling, laser micromachining, 3D printing, micromarking, and other technologies relocated from Prince Georges County to bwtech@umbc research and technology park bringing 25 jobs.
- Sparrows Point Terminal LLC – recently acquired the 3,100-acre former steel production facility. The new owners agreed to $48 million in assurances to pay for the environmental clean-up. The property will be redeveloped for industrial use.
The Maryland State Department of Assessment and Taxation (SDAT) provides copies of its data sets through a contractor. You can obtain prices, formats, production schedules, etc. from Specprint, Inc. by calling 410-561-9600.
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Revised November 21, 2014