SBD/March 11, 2011/Marketing and Sponsorship

Welcome To Our House: Under Armour Planning Mega Retail Outlet At Baltimore HQs

Under Armour has four other retail outlets throughout the U.S.
Under Armour is "planning to build a 25,000-square-foot retail store" at its HQs in the Tide Point business park in Baltimore now that the company "has reached a deal to buy" the complex, according to Daniel Sernovitz of the BALTIMORE BUSINESS JOURNAL. Under Armour Exec VP/Business Development J. Scott Plank said that the company is "planning to build a retail store at Tide Point to show off, and sell, its latest products." Plank noted that Under Armour has retained Baltimore-based architecture firm Ayers Saint Gross to design the proposed store. The company has four full-priced retail stores in the U.S., and Plank said, "What we don’t have is a store which shows everybody what we’re doing right now." Sernovitz noted Under Armour officials have been "relatively quiet on their future plans for Tide Point, which the company has agreed to buy for $60.5 million in a deal expected to close by May." But Plank said that the company "decided to buy Tide Point primarily to make sure it could keep its corporate campus there." He indicated that Under Armour "may seek city financing to aid its development," adding that the company is "looking into a city financial aid program called Tax Increment Financing, which would allow the city to issue public bonds to help pay for campus improvements that Under Armour would pay back over time with the increased property taxes its improvements generate" (BIZJOURNALS.com, 3/10).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug