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National  + Maryland  + Washington DC  + Opportunity Zones  | 

Blue Ocean Closes on Baltimore’s 2M-SF Middle River Depot

Maryland-based developer Blue Ocean closed on its acquisition of Middle River Depot, located in Eastern Baltimore County, for an undisclosed sum. At 1.9 million square feet, it’s Maryland’s largest industrial building.

Blue Ocean plans a rebranding and repositioning as a mixed-use project, with office, retail and recreational components along with industrial.

CBRE’s Mid Atlantic Institutional Group oversaw the Middle River Depot sale to Blue Ocean. “Although there continues to be massive amounts of national, institutional capital flowing into industrial investments in the Mid-Atlantic region, this opportunity was acquired by a local investor who understands the strategic nature of the location, and who will work closely with the community to create value,” said CBRE EVP Bo Cashman.

The property’s location was declared an Opportunity Zone by the State of Maryland. With a nod to its history as a World War II-era bomber factory, it will be rebranded as Aviation Station.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Development
  • ◦Sale/Acquisition
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