Bethesda Real Estate Firm Acquires Belvedere Square In Baltimore

BETHESDA, MD — The Premier Companies, a Bethesda real estate investment firm, completed the purchase of Belvedere Square, a Baltimore dining and shopping destination with 100,880 square feet of mixed-use property, according to real estate brokerage firm KLNB.

The Bethesda firm bought Belvedere Square, at 529 East Belvedere Ave. in Baltimore, from War Horse Cities LLC. The sales price of the transaction was not disclosed.

Belvedere Square comes with four buildings, which are home to more than 35 tenants, a handful of whom rent kiosks in Belvedere Square Market, a food hall that has been in operation since 1986.

KLNB, which has four offices in the D.C. and Baltimore areas, brokered the deal.

“It was a pleasure to be part of such a monumental transaction and we would like to congratulate everyone involved,” KLNB Principal of Retail Investment Sales Chris Burnham said in a statement. “This has always been an important economic and social anchor for the local area, and War Horse has been a wonderful steward of this Baltimore staple.”

War Horse Cities is a Baltimore-based firm owned by Scott Plank, a former Under Armour executive and brother of founder and CEO Kevin Plank. The firm acquired Belvedere Square in 2012.

During its time as owner, War Horse Cities invested in the property, realizing its importance as a community hub, KLNB said in a news release.

In addition to the kiosks in the market, Belvedere Square is home to several co-anchors, including Loyola University of Maryland Clinical Centers, the Next One Up youth leadership development charity, the soon-to-be expanded Levin Eyecare, and the University of Maryland Urgent Care center. Other tenants include Dunkin’, Verizon Wireless, Truist Bank and Atwater’s.

The sale also included one 0.622-acre parking lot pad site available for development and 0.478 acres of land, totaling 1.1 acres, according to KLNB.