Baltimore, MD – Cushman & Wakefield announced today that the real estate services firm has been awarded the 80,000-square-foot (sf) leasing assignment for MCB Real Estate’s Phase II of Yard 56, a mixed-use medical office building complex located at 5525 Eastern Avenue in East Baltimore.
Cushman & Wakefield’s Lizzy Sweeney and Matt Melnick will oversee the leasing for 80,000 sf of the medical office portion of the complex on behalf of the landlord. The mixed-use complex is one of the first major Federally Designated Opportunity Zone developments in the country and includes the medical office space, 225 apartment units and 100,000 sf of retail, as well as structured parking. Baltimore Medical System is the lead tenant with approximately 45,000 sf of space.
“We are thrilled to have been selected by MCB to spearhead the leasing efforts for Yard 56 and this premier medical office property,” said Sweeney. “The medical office market is strong in Baltimore and this asset’s proximity to Johns Hopkins Bayview Medical Center makes it an ideal location for any best-in-class healthcare tenant.”
Phase II of Yard 56 features Class A medical office space, boasting large floorplates of up to 20,000 square feet and is well-positioned to offer an array of amenities to visiting hospital guests, employees and residents of the area. The multiple phase development has created retail, housing and employment opportunities within the region and is strategically positioned along a major east-west artery that runs directly through the heart of the city.
Yard 56 is ideally located in proximity to Interstate 95 and offers a parking garage and dedicated areas for drop-off parking, as well as existing retailers including Starbucks, Nekter Juice Bar, Chipotle, Jimmy John’s, LA Fitness, Streets Market and more.
Previously a 20-acre abandoned industrial site, Yard 56 has transformed the once unusable and unsightly land into a state-of-the-art urban mixed-use complex that has been architecturally designed to pay homage to its industrial roots and historical charm. Many of the original factory artifacts found during the demolition have been repurposed to celebrate the history of the site and can be seen as art installations throughout the complex.
About MCB Real Estate
Headquartered in Baltimore, Maryland, MCB is a privately held, institutionally-capitalized commercial real estate development and investment firm. Active primarily along the I-95 corridor, the company owns and operates approximately nine million square feet of retail, industrial, office and mixed-use projects. For additional information visit www.mcbrealestate.com.