July 15, 2020
Baltimore, MD Yard 56, located at 5601 Eastern Avenue in Baltimore, Maryland, has signed six new Tenants, evidencing its strong continued leasing momentum in the midst of the current Coronavirus Pandemic. One of Maryland’s first development projects to receive an Opportunity Zone Investment, Phase I of Yard 56 is now 90% leased anchored by LA Fitness and Streets Market.
Starbucks is the latest tenant to sign a lease at Yard 56. The nation’s leading coffeehouse signed a lease for 2,442 square feet along the Bayview Blvd entrance of the center. “The addition of Starbucks at Yard 56 substantiates our vision for development and we are looking forward to delivering a best-in-class tenant line-up to support the community” proclaims Jarett Parker, Vice President of Leasing at MCB Real Estate. Starbucks commenced construction following the 4th of July holiday and has plans to open in Fall 2020. A team from Trout Daniel and Associates represented the tenant in the transaction.
Nékter Juice Bar is the pioneer of the modern juice bar experience with a delicious menu of fresh juices, superfood smoothies, acai bowls, and healthy snacks that are 100 percent, freshly made, clean, nutrient-rich and can be customized based on individual diet or lifestyle preferences. With an unwavering commitment to ingredient transparency, authenticity and innovation, Nékter Juice Bar is rooted in the philosophy that “healthy” can taste great, be easily accessible, and be affordable too. A local operator of Nékter Juice Bar has signed a lease for 1,200 square feet facing Eastern Avenue. The Flynn Company based in Philadelphia, represented the tenant in the transaction.
Baltimore-based Royal Farms, known for their “World Famous Fried Chicken,” will be relocating to the site from their current location just east on Eastern Avenue. ROFO will expand to have both gas and carwash uses to go along with a 2,000 square foot convenience store which will offer made to order food and chicken options. John Schultz Senior Vice President & Principal at The Mackenzie Companies represented the tenant in the transaction.
Locally owned and operated Total Athlete Nutrition, is a diet and nutrition specialty retailer which individualizes products and workout regiments based on their customer. Total Athlete Nutrition signed a lease for 1,800 square feet which will become their fourth location, other locations are in Columbia, Pasadena and Rosedale all within the State of Maryland.
Jersey Mike’s Subs, a franchise driven submarine and sandwich restaurant, headquartered in Manasquan, New Jersey, is the latest tenant to open at Yard 56 on June 24. A local franchisee signed a lease for 1,300 square feet within Yard 56. Ryan Minnehan Principal at KLNB represented the tenant in the transaction.
The Segall Group, led by Jamie Lanham and Andrew Segall represented the landlord on all six transactions.
Chipotle, Fulton Bank, Panda Express, accompany Jersey Mike’s Subs as recently opened within the center. LA Fitness, Total Athlete Nutrition and Nekter Juice Bar are all scheduled to open within the next few weeks, followed by Streets Market, Starbucks, Royal Farms Top Coat Nail Salon and Eyes on Eastern which plan to open in the Fall of 2020.
Construction of Phase II of Yard 56 is slated to commence in late 2020 and features a 100,000 square foot medical office building, 225 apartment units that will add 6,000 square feet of street retail as well as structured parking. Additionally, Phase II has land earmarked for a future development.