South Duvall and Sagamore Ventures to Bring Life Science to City Garage

BALTIMORE, Nov. 10, 2021 /PRNewswire/ -- South Duvall and Sagamore Ventures have announced a partnership to bring more than 100,000 square feet of biotech laboratory space to City Garage in Port Covington, Baltimore, over the next 10 years, with approximately 75,000 square feet being delivered in the next year, announced Scheer Partners, which brokered the transaction.

"Baltimore is home to many world class institutions, but there's been a true need for space built for research and development," said Matthew Brown, Director of Acquisitions, South Duvall. "City Garage and Port Covington will be the perfect place for the innovative life science community to grow in Baltimore."

"Since its opening, City Garage has been a place for innovative companies to build, collaborate and grow. We believe this new investment continues on that theme and further demonstrates that life science innovation belongs in Port Covington," said Jeff Nattans, Executive Vice President, Sagamore Ventures. "With the life science expertise that South Duvall brings to the table, our partnership will usher in a new era for City Garage."

"We are thrilled by this commitment from South Duvall and Sagamore Ventures," said Baltimore City Mayor Brandon M. Scott. "The new high-quality research and development lab space strengthens Port Covington, and Baltimore as a whole, as a premier hub for life science research and technological innovation."

"We are ecstatic with the development of new biotech lab space at City Garage which aligns with our Baltimore Together strategic plan recommendation to increase the amount of lab space in the city," said Colin Tarbert, President and CEO of the Baltimore Development Corporation. "This enhancement to City Garage will bring significant economic benefits, investment, and jobs to Baltimore City by creating much needed space for Baltimore's growing life sciences companies."

About City Garage www.citygaragestc.com
Formerly a Baltimore City bus depot, the industrial space with water views of the Patapsco River was originally built in 1965. The space was expertly renovated in 2015 and repositioned by Sagamore Ventures as a hub for innovation and entrepreneurship in Port Covington. The current redevelopment will capitalize on the building's existing features for life science conversion, and the team will invest heavily into the building's infrastructure, with increased electric, water, gas capacities and backup generators. The building connects to nearby amenities with bike paths and trails and has immediate access to Interstate 95. City Garage will aim to build on its strong base of current tenants by attracting life science companies from across the region to the greater Port Covington neighborhood.

About South Duvall
South Duvall is a value-add life science real estate investor. South Duvall, and its related companies, have been active in life science real estate for almost 30 years across the US, focusing on the greater Mid-Atlantic region. Headquartered in Rockville, Maryland, the South Duvall team has developed over 600,000 square feet of life science real estate, and consulted on the development of an additional two million square feet.

About Sagamore Ventures
Sagamore Ventures is a privately-held investment company with diversified holdings that include commercial real estate, hospitality, food and beverage, and venture capital. The company is based in Baltimore, MD, and serves as the family office of Kevin A. Plank, the founder, Executive Chairman, and Brand Chief of Under Armour, Inc. Key investment holdings include Sagamore Spirit and a major equity stake in the Port Covington redevelopment in South Baltimore. The mission of Sagamore Ventures is to execute the initiatives of the Plank Family, support the growth of our investments, and contribute to economic development and opportunity in Baltimore City.

SOURCE Scheer Partners