[IMGCAP(2)]Located 1.5 miles south of Downtown on the MiddleBranch of the Patapsco River, the 59-acre site can support aminimum of four million sf of new development. The owners are alsoin discussion with the adjacent property owners about possiblycombining the sites into a single 140-plus-acre coordinateddevelopment plan, according to CBRE.

The owners feel that the current use of the property--it isbasically a big box retail site--is not fully leveraging itspotential, Joe Ruzecki, SVP at CB Richard Ellis tells GlobeSt.com.Mixed-use is expected to perform better, given developers' push tocross over I-95. Locally based Turner Development Group, forinstance, plans to redevelop a nearby piece of the same waterfront.Also, "the city wants to see high density development here,including higher end retail," Ruzecki says.

Right now there is a Sam's Club and a Wal-Mart on the property,John Blumer, managing director of CB Richard's Baltimore office,tells GlobeSt.com. "The Sam's Club is closing, which is providingthe opportunity to redevelop," he says. Another factor influencingthe owners' decision to push for mixed-use development, he adds, isBase Realignment and Closure Act, which is redirecting growthpatterns in Baltimore's direction.