Under Armour Founder, Chair & CEO Kevin Plank yesterday "outlined a broad vision for the land he's been acquiring in South Baltimore, much of which will become a new campus for the sportswear maker as it outgrows" its current HQ, according to Kevin Litten of the BALTIMORE BUSINESS JOURNAL. It was the "first time Plank has spoken publicly -- or even acknowledged directly -- acquiring more than 128 acres of land at Port Covington he's been assembling for a real estate project of massive proportions." Although Plank said that the area "will eventually become a mixed-use project that will include housing," he added that the "big focus now is plotting the best use of the land for Under Armour's continuing growth." Plank said that "as much as 3 million square feet of space for Under Armour use could be built in a first phase." He added that a large UA retail store "will be part of the development." Litten noted UA "only has room to add about 200,000 square feet of additional space at the company-owned Tide Point campus in Locust Point." Another element of the project, a 5-acre whiskey distillery complex, "will include a 10,000 -square-foot restaurant and a barn that Plank will allow the Baltimore Police Department's mounted unit to use." Plank said he wants to "start building and get going on that right away" (
BIZJOURNALS.com, 3/2). In Baltimore, Natalie Sherman notes Plank's real estate firm, Sagamore Development, "plans to break ground" tomorrow on the Recreation Pier hotel in Fells Point, where it "plans to open a 128-room inn" around the end of '16. It is "scheduled to present plans Thursday" for the distillery in Port Covington. Plank said that "about 2,000 people work at Under Armour's Tide Point headquarters and in other offices around the city" (
Baltimore SUN, 3/3).
