UMD Inks 13K-SF Lease at Baltimore Peninsula for New MBA Campus

The developers behind the sprawling Baltimore Peninsula project in Charm City secured yet another addition to its diverse tenant list, this time with the University of Maryland (UMD).

UMD’s Robert H. Smith School of Business inked a 12,500-square-foot lease at Baltimore Peninsula’s Rye Street Market district. The space will serve as the school’s new campus for its flex MBA program, along with space for alumni events, executive education and “collaborations with local businesses.”

MAG Partners and MacFarlane Partners, along with Sagamore Ventures and Goldman Sachs Asset Management, make up the Baltimore Peninsula development team. Cushman & Wakefield’s Courtenay Jenkins, Linn Worthington, Matt Melnick and Rich Thomas represented Baltimore Peninsula, while JLL’s Robert Manekin represented UMD. 

“Bringing a top-tier academic institution into the mix not only broadens the range of entities at Baltimore Peninsula but also helps build a dynamic, inclusive community that serves residents, students, and professionals of all ages,” MaryAnne Gilmartin, MAG Partners’ founder and CEO, said in a statement.

Baltimore Peninsula, and Rye Street Market in particular, has snapped up a handful of well-known office tenants in recent months. Real estate services firm Newmark inked a 4,550-square-foot lease there in June, while PricewaterhouseCoopers signed a 23,000-square-foot lease at the same building in May. Other tenants at Rye Street Market include the Baltimore Ravens, design firm Chambers, and a plethora of restaurants and retailers.

Gilmartin also recently spoke with Commercial Observer about MAG Partners’ future Baltimore plans, along with its multifamily developments in New York City. 

Nick Trombola can be reached at ntrombola@commercialobserver.com.