Tide Point Property Sale Contract Is Terminated
The purchase of the former Under Armour headquarters site in Baltimore has been called off.
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 terminated his contract to purchase the 12-acre Tide Point property in Locust Point from Under Armour. The site previously served as the sports apparel company's headquarters for two decades.
Why it matters
The cancellation of this sale halts the transition of a major waterfront site that has remained a central commercial anchor in Baltimore for years. This change in ownership plans impacts the long-term redevelopment outlook for the Locust Point area.
The Tide Point site spans 12 acres in Locust Point, a property that housed Under Armour until 2024. While the master agreement for the land fell through, development plans continue for the site's Cheer Building, which is slated for 122 new rowhomes and a parklet.
The players
Mark Sapperstein
A prominent Baltimore developer who focuses on urban infill projects and recently acquired the Cheer Building.
Under Armour
The Baltimore-based sports apparel brand that recently moved its headquarters to the Baltimore Peninsula.
The details
The Tide Point property was a Procter & Gamble factory during the 20th century before Under Armour occupied the site from 2004 until 2024. Following the company's move to the Baltimore Peninsula, a tentative sale agreement was reached in the summer of 2025. This contract for the 12-acre parcel did not formally close, resulting in the current termination of the purchase agreement.
Timeline
20th century: Tide Point served as a Procter & Gamble factory.
2004-2024: Under Armour occupied the Tide Point property.
Summer 2025: Under Armour reached a tentative sale agreement.
October 2026: Mark Sapperstein confirmed the purchase contract ended.
The Home Front
This termination marks a pause in the large-scale industrial-to-residential conversion trend currently transforming Baltimore waterfront districts. It signals a shift in the local land-use landscape as major corporate relocations redraw the city's development map.
Residents should track development proposals in Locust Point as land-use plans for the 12-acre site are adjusted. Homeowners near the Cheer Building can continue to monitor the progress of the 122 planned rowhomes as construction permits are filed.
The takeaway
Large-scale site redevelopments are subject to shifts in contract status and planning agreements. Residents can track project changes by checking local planning commission filings for updates on the Tide Point property's future status.
Further reading
For more updates on local development, see Commercial.
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?
