5501 Pennington Avenue

TD&A is pleased to exclusively represent Origin Baltimore Terminals on the sale of the 4-parcel, 41.01-acre site, identified as 5501 Pennington Avenue, former headquarters of Origin Americas. In addition to acquisition of the entire 41-acre waterfront property, ownership is now offering the rare opportunity to purchase a subdivided portion of the property adjacent to its deep water (24’) pier, which land area may range between 12.31 (+/-) and 18.50 (+/-) acres, including exclusive use of the existing CSX rail spur with stacking for up to 8 railcars. With the property’s main entrance at the intersection of Pennington Avenue and Birch Street in Curtis Bay, the 41 acres is improved by multiple buildings constructed at varying times, and measuring 140,325 (+/-) square feet in all. The property is located in an Opportunity Zone. At present, the Property is anchored by long term credit tenants, Universal Environmental Services, Aggregate Industries / Holcim Group, and Allan Myers. With a newly executed 25-year, contingent ground lease, the property will potentially generate in excess of $3,400,000 in annual Gross Income through multiple diversified revenue streams, including warehouse, IOS, tankage rentals, scale and parking income, as well as dockage and transloading revenue. Zoned MI and I-2, the Pennington Avenue location provides the unique opportunity for a strategic operator requiring exclusive use of CSX rail and deep water to own prime industrial property in the land-constrained B-W Corridor, with direct access to the Port of Baltimore waterways, CSX Railway, I-95, I-695, I-97 and in close proximity to the Key Bridge reconstruction site. More specifically, in addition to being located in an Opportunity Zone, Enterprise Zone, and potential eligibility for multiple other economic development incentives, 5501 Pennington provides an owner-operator with maximum flexibility to add value via redevelopment and adaptive repurpose of up to approximately 25 acres of raw land and improved property, with restructuring or termination of existing below-market leases, maximizing underutilized dockage and transloading revenue, and new tank construction.