923-937 Eastern Avenue, Baltimore, MD, 21202, US

925 Eastern Avenue

Asset description

Jones Lang LaSalle, a Maryland licensed real estate broker (“JLL”), is pleased to offer for sale or joint venture 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.

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Attributes

Land area gross

0.13 ha

Zoning

C-5-DE

Media

Investment highlights

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.
Prime location is near, but not located directly in, Baltimore’s central business district and provides easy access to I-95 South to Washington, D.C. and I-83 North to Baltimore County.
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.
Residents can walk, bike, drive, utilize the free Charm City Circulator bus, or take a water taxi to the headquarters of many businesses.
The Property is positioned within 8.7 million square feet of retail. The neighborhood offers tenants and residents architecturally savvy buildings, numerous hotels, premier restaurants, the best fitness facility in the city, and top national/regional retail brands.