Three additional retailers sign leases at 114,000 square foot neighborhood shopping center, located at 5600 The Alameda and anchored by Shoppers Food Warehouse, to elevate occupancy to 100 percent
National sneakers and apparel retailer SNIPES has selected Alameda Marketplace, a 114,000 square foot neighborhood shopping center in Baltimore City, as the site for its next entry point into the greater Baltimore metropolitan region. The German-based company, which operates more than 300 stores throughout the United States, including one other site in Baltimore City and eight throughout Maryland, signed a lease with Tide Realty Capital at the center located at 5600 The Alameda and recently opened within 5,482 square feet of space. Three additional retailers also recently signed leases at Alameda Marketplace, elevating occupancy to 100 percent. Matt Copeland of KLNB Retail represented the landlord in the transactions.
SNIPES sells an array of shoes and urban apparel featuring brands such as 21 Savage, adidas, Jordan, Mitchell and Ness, New Balance, New Era, The North Face and Polo as well as its own SNIPES line. The multichannel company differentiates itself through its deep roots in hip hop culture and is inspired by streetball, urban dance and action sports. The vision of company founder Sven Voth was to create and expand a business honoring hip-hop as an art form and making street fashion and footwear both accepted and available to the generable public. The company has fueled its expansion throughout the United States through the acquisition of sneaker chains Expressions, Jimmy Jazz and KicksUSA,
“SNIPES is a unique destination retailer that differentiates itself from other national athletic store and apparel retailers with its highly-targeted merchandising approach and hip-hop culture. Their presence within Alameda Marketplace will generate consistent traffic providing value to our entire tenant mix,” explained Aaron Loeb, President of Tide Realty Capital.
Located at the corner of The Alameda and Chinquapin Parkway, additional Alameda Marketplace anchor tenants include Shoppers Food Warehouse, Planet Fitness, a new Dollar Tree and 15 complimentary destination and service-oriented retailers. Nearly 500,000 people reside within a five-mile radius of the center, including nearly 220,000 households with an average household income approaching $84,000.More than 19,000 vehicles pass the site on a daily basis from The Alameda.
Recent activity at the center was bolstered by the return and revitalization of Shoppers Food Warehouse, who initially closed its doors pre-pandemic. Tide Realty Capital recently attracted additional tenants to better serve the community including REEF Kitchens, a “ghost” kitchen operation that prepares fresh food for delivery or takeout to serve the local community;EVgo, which is installing four electric vehicle charging stations; and Chase Bank, which openedan automatic teller machine (ATM) drive-thru.
“Since acquiring Alameda Marketplace in 2020, we have successfully stabilized the existing tenant base, attracted compelling new uses that have dramatically increased both weekday and weekend traffic and invested resources to improve the aesthetic appeal and functionality of the center, to the benefit of multiple stakeholders,” added Loeb. “We continue to monitor the local retail landscape and the performance of our tenants to consider and implement strategies to heighten the appeal of this strategically-located community shopping center.”
Headquartered in Baltimore City, Tide Realty Capital is a privately-owned real estate investment, management and advisory firm working throughout the Mid-Atlantic and Midwest regions of the country. The company pursues special situations in real estate including select value-add opportunities. The group works in a variety of asset classes including multi-family communities, retail shopping center, commercial office buildings and warehouse/industrial projects. For additional information, visit www.TideRECapital.com
