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Don’t drink the Kool-Aid from TradePoint Atlantic
Posted by Buzz Beeler on 18th March 2018
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TPA is not the promised land of jobs, as laid out in this Baltimore County assessment. 

First off, FedEx only will bring around 350 full and part-time jobs.

As far as Under Armor is concerned, that company was supposed to be operating by this spring, yet there is no announcement of a lease being signed with TPA. The hype put forth by the three politicians featured in the photo – Maryland State Lieut. Gov. Boyd Rutherford, Baltimore County Executive Kevin Kamenetz, and 7th District  Councilman Todd Crandell – is far from reality.

Some of the keywords in the below press release are as follows: Multimodal global logistics center,  deepwater berths, railroads, highways, and storage space. Those words spell out some of the plans that will ultimately, in our opinion, negatively impact the entire 7th District of Baltimore County. Take a look at some more press releases from TPA’s site and you will get a better picture of the ultimate goal.

One thing you’ll also notice is that UA is not mentioned in the equation. According to VP Aaron Tomarchio, UA was slated to sign a lease for its massive warehouse at the TPA site. If you can find that announcement in some of these press releases, then please contact us immediately and we will correct our error.

The Baltimore Post strongly believes, and immensely opposes, granting taxpayer funds in a blatant show of corporate welfare to men like Baltimore Raven’s owner Steve Bisicotti and his cousin Jim Davis, who purchased the old steel mill for pennies on the dollar. Here is a quote from a recent Baltimore Sun article on the net worth of both Steve Biscotti and Jim Davis:

Cockeysville’s Jim Davis, a founder of staffing company Aerotek (later the Allegis Group) alongside Steve Bisciotti, has a net worth of $2.5 billion — up from the $1.2 billion reported last year. He ranks at No. 814 on Forbes’ list after coming in at No. 1476 in 2016.

The Baltimore Post keeps asking the same question as to why the taxpayers must be forced to provide hard-earned dollars to private enterprises that are owned by some of the wealthiest men in the world.

The egregious part of this issue deals with what is known as one of the most contaminated sites, which the Post will report on in detail in an upcoming column.

TPA’s press release follows:


CORRECTING and REPLACING Tradepoint Atlantic Welcomes Royal Farms as First Retail Tenant at Sparrows Point

Announces Royal Farms as first tenant to occupy 70-acre retail development, The Shoppes at Tradepoint Atlantic

CORRECTION…by Tradepoint Atlantic

BALTIMORE–(BUSINESS WIRE)–Please replace the release issued November 15, 2017, at 11:40 a.m. ET with the below due to a correction in the second paragraph.

“The addition of Royal Farms marries a first-rate operator with a great deal of offerings to the burgeoning tenant development at Tradepoint Atlantic”

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The corrected release reads:

TRADEPOINT ATLANTIC WELCOMES ROYAL FARMS AS FIRST RETAIL TENANT AT SPARROWS POINT

Announces Royal Farms as first tenant to occupy 70-acre retail development, The Shoppes at Tradepoint Atlantic

Tradepoint Atlantic, a 3,100-acre multimodal global logistics center in Baltimore, Maryland featuring an unmatched combination of access to deepwater berths, railroads, highways, and storage space, today announced that Royal Farms, the Baltimore-based convenience store chain, has signed a long-term lease at Tradepoint Atlantic.

Royal Farms is the first tenant of Tradepoint Atlantic’s retail component, The Shoppes at Tradepoint Atlantic, a planned retail development comprising more than 70 acres of Tradepoint Atlantic. The Royal Farms development includes retail gas and diesel fueling, a convenience store, and car wash.

Royal Farms chose this premier 3.7-acre location for its direct access to I-695, proximity to BWI Airport, easy access to over 43,000 households and its adjacency to the newly constructed fulfillment centers at Tradepoint Atlantic.

“The addition of Royal Farms marries a first-rate operator with a great deal of offerings to the burgeoning tenant development at Tradepoint Atlantic,” said Greg Ferrante, Senior Vice President, JLL. “The surrounding residential population provides further convenience to the heavily-trafficked I-695 corridor, and we expect Royal Farms to do quite well here.”

“We are excited to welcome Royal Farms, which is a brand both highly recognizable to Baltimore-area consumers and is known for its consistently impressive quality,” said Eric Gilbert, Chief Development Officer of Tradepoint Atlantic. “Today’s announcement is a first step in the development of the retail portion of our project. We expect the thousands of people who will work at Tradepoint Atlantic and the tens of thousands that travel I-695 every day will welcome this highly accessible retail development to the area.”

Royal Farms will occupy one of the site’s seven free-standing retail pads. It is expected to open in late-2018. Headquartered in Baltimore since 1959, Royal Farms manages a chain of stores stretching throughout more than 180 locations in Maryland, Delaware, Virginia, New Jersey and Pennsylvania.

“We’re extremely proud, as well as excited, to take one of Baltimore’s favorite local brands and partner with a significant part of Baltimore’s history as well as its future as part of our business growth,” said Jeff Bainbridge, Director of Real Estate, Royal Farms. “In addition to the symbolic nature of our move to Sparrows Point, we’re eager to benefit from convenient access to thousands of customers on-site at Tradepoint Atlantic, as well as tens of thousands of customers in the immediate area.”

JLL, a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate, serves as the exclusive broker for Tradepoint Atlantic.

About Royal Farms

Royal Farms began as a family-owned dairy farm in 1918. It evolved into a fast casual, convenience, and gas station chain that now operates approximately 185 stores in Maryland, Delaware, Virginia, New Jersey, and Pennsylvania, and is known for its award-winning coffee, fried chicken, and new signature inspired sandwiches, subs, and wraps. In 2017, Royal Farms was awarded by Forbes as one of “America’s Best Mid-Size Employers”. https://www.royalfarms.com

About Tradepoint Atlantic

The 3,100-acre multimodal global logistics center in Baltimore, Maryland, offers a gateway to markets around the United States and the world, featuring an unmatched combination of access to deep-water berths, rails and highways. Ground-breaking agreements signed with federal and state environmental regulators in 2014 to remediate the legacy from a century of steel-making, and the financial backing of investment firms Hilco Global and Redwood Capital Investments, as well as the robust support of local and state government, enable the redevelopment of the site through further infrastructure improvements. At full buildout, Tradepoint Atlantic is projected to generate 11,000 permanent jobs, $2.9 billion in annual economic impact, and add a point to Maryland’s gross domestic product as one of North America’s most strategic commercial gateways. www.tradepointatlantic.com

Contacts

Royal Farms
Shelby Kemp, 410-215-8022
skemp@royalfarms.com
or
Sloane & Company (on behalf of Tradepoint Atlantic)
Whit Clay, 212-446-1864
wclay@sloanepr.com
or
Roger Sauerhaft, 212-446-1876
rsauerhaft@sloanepr.com