SPARROWS POINT — Officials announced last week that the home improvement retail giant Home Depot signed a lease for two warehouses totaling more than 1 million square feet at Tradepoint Atlantic, site of the former industrial giant Bethlehem Steel mill site in Sparrows Point.
Although official details are not yet public, a real estate symposium in Towson Feb. 6 included news of the upcoming lease. A spokesperson for Home Depot said the deal was part of a strategic corporate decision to enhance the efficiency of home deliveries.
The exciting announcement comes on the heels of retailer Floor and Decor’s newly inked deal for its own 1.5 million square feet distribution hub at the revitalized industrial center. Floor and Decor says it will bring 150 full-time new jobs to the area by the end of 2023.
“We are thrilled at the prospect of having one of the world’s largest retailers choose Maryland for this exciting new project,” Gov. Larry Hogan said of the Home Depot development. The newly inaugurated second-term governor also took to social media to share the news.
Tradepoint Atlantic Senior Vice President Aaron Tomarchio also declined to comment to press inquiries.
Baltimore County Executive John Olszewski, Jr. praised the Home Depot decision and the continued success of Tradepoint Atlantic’s development strategy. In December, the Baltimore County Council approved a $78 million infrastructure needs grant for the industrial hub. The grant funding will be used primarily for water extensions, sewer lines and road construction.
“Tradepoint Atlantic has proven repeatedly to be an excellent source of job creation for Baltimore County and given the location and our investments in the infrastructure, I’m not surprised that national companies like Home Depot recognize its incredible value as a location,” Olszewski said.
The historic Bethlehem Steel site was purchased for $110 million just five years ago by Redwood Capital Investments and Hilco Global.