Mark Sapperstein Ends Deal for Tide Point Property
The developer terminates a contract to purchase the 12-acre former Under Armour site in Baltimore.
Updated on Oct. 29, 2026 in Commercial
Live Poll
Should local officials prioritize senior housing for the redevelopment of unused industrial waterfront properties?
Developer Mark Sapperstein has officially terminated a contract to acquire the 12-acre Tide Point property in Baltimore. This decision marks the end of a tentative sale agreement reached between the site's owner, Under Armour, and 28 Walker Development in summer 2025.
Why it matters
The cancellation halts the anticipated transition of the historic waterfront site that served as Under Armour's headquarters for two decades. The future of the Locust Point location remains uncertain following the company's 2024 move to the Baltimore Peninsula.
The Tide Point property spans 12 acres of land in Locust Point. While the broader deal ended, Mark Sapperstein separately purchased the Cheer Building at the site in 2025, which is slated for 122 new rowhomes and a parklet.
The players
Mark Sapperstein
He is a prominent Baltimore-based real estate developer and the principal of 28 Walker Development.
Under Armour
This is a global athletic apparel company that maintained its primary headquarters at Tide Point for two decades.
The details
The property, which previously functioned as a Procter & Gamble factory during the 20th century, has been searching for a new path forward since Under Armour vacated the premises in 2024. Although Sapperstein is stepping away from the main purchase, he plans to focus his development efforts on land located at the Baltimore Peninsula.
Timeline
Tide Point operated as a Procter & Gamble factory during the 20th century.
Under Armour occupied the Tide Point property from 2004 to 2024.
A tentative sale agreement was reached in summer 2025.
The purchase contract was confirmed as terminated in October 2026.
Culture Shift
The failed acquisition highlights the broader challenges of repurposing large-scale industrial and corporate campuses in urban waterfronts. This departure mirrors the ongoing transformation of Baltimore's commercial landscape as legacy corporate headquarters seek modern hubs like the Baltimore Peninsula.
Residents in Locust Point may see continued uncertainty regarding the future use of the 12-acre waterfront parcel. While the Cheer Building development remains planned, the surrounding site remains in limbo, affecting potential local property value and neighborhood development timelines.
The takeaway
Large-scale real estate projects frequently face significant hurdles that can lead to sudden contract terminations. Prospective buyers and residents should monitor municipal planning filings to stay updated on future land use proposals for the Locust Point area.
Further reading
For more news on large-scale property developments in the area, visit our Baltimore Commercial section.
Source note: This article includes information reported by The Baltimore Banner.
Live Poll
Should local officials prioritize senior housing for the redevelopment of unused industrial waterfront properties?
