Editor’s note: The following article appeared on bizjournals.com on April 29, 2019.
Under Armour’s 1.3 million-square-foot warehouse at Tradepoint Atlantic is set to open next week.
The facility has been dubbed its Omni Distribution House and will be a direct distribution link from the sportswear giant to the consumer. It has been under construction for about a year next to an Amazon.com warehouse that opened in August at the former Sparrows Point steel mill site near Dundalk.
The Under Armour warehouse will bring more than 1,000 new jobs to the peninsula.
Under Armour CEO Kevin Plank will officially open the warehouse at 7030 Trade Point Ave. on May 8. An invitation to the early-morning event says the center “gives us the ability to expand our global business and will also serve as a distribution center and reaffirms our commitment to Baltimore.”
The opening of the Under Armour warehouse takes place as new data from the first quarter in the Baltimore metro area shows a record pace of development in the industrial market.
More than 8 million square feet of warehouse space leased during the first three months of the year, according to research by Lee & Associates Marylandcommercial real estate group. That pace has set a new record along the Interstate 95 corridor and was based on leasing figures over the past six months that total over 1.6 million square feet.
The growth is part of an ongoing trend in the industrial market that saw more than 7 million square feet of warehouse space completed last year. A similar report by MacKenzie Commercial Real Estate Services was released last week.
“The Baltimore-Washington, D.C. region, considered the fourth largest combined statistical area in the country with more than ten million people, remains among the most active industrial markets in the country,” said Tom Whelan, a principal at Lee & Associates. “Approximately one-third of all consumers residing in the U.S. can be accessed within a one-day truck drive and major ports including those in Baltimore, Washington, D.C., Wilmington and Philadelphia service this area.”
Brokers and researchers at Columbia-based Lee & Associates have tracked the metro area’s industrial market for years, Whelan said.
Some of the largest leases have been located at Tradepoint as the old steel mill site is being converted into a 3,100-acre global distribution hub. Floor & Decor isopening a 1.5 million-square-foot distribution center there and Home Depot will occupy two warehouses that will total 1.2 million square feet.
The Lee & Associates first quarter report shows the combined vacancy rate for Baltimore and Anne Arundel, Baltimore, Carroll, Cecil, Harford and Howard counties at 7.3 percent in the first quarter. That figure is a slight decrease from the fourth quarter in 2018 when it was 7.8 percent. The company’s research is based on surveys of close to 3600 warehouse and industrial buildings in the market.