Rye Street Market – A New Innovative Life Sciences Space Nestled in Baltimore’s Inner Peninsula
The new Rye Street Market at the Baltimore Peninsula was host to BioBuzz’s 3rd Annual Awards Celebration & Symposium and is home to a vibrant and growing community, where life science can grow.
By Sarah Ellinwood
June 24, 2023
When many think of Maryland biotech, their minds immediately think of the I-270 Corridor, consisting of Bethesda, Rockville, Gaithersburg, Germantown, Clarksburg, and Frederick.
While many life science companies indeed call these hubs home, there is also rich, fertile ground for innovation up I-95 around Baltimore. Like other local companies in Montgomery and Frederick Counties, Baltimore start-ups, particularly medtechs, enjoy the proximity to key federal resources, such as the FDA, NIST, and NIH, as well as to the nation’s capital. Baltimore enjoys its own set of perks, though, including easy access to BWI Airport and having two innovation powerhouses, the University of Maryland Baltimore and Johns Hopkins University, nestled right within it.
Amenities are all for naught, though, if you lack one key thing – space.
While many start-ups spin out of Baltimore’s local universities, they have the same problems as a hermit crab – they outgrow their current space and need to look for a bigger home. However, in a city as developed as Baltimore, land for new real estate is scarce, driving many Baltimore-born startups either to a different county or to a different state altogether once they graduate from their incubators.
Baltimore Peninsula, a new mixed-use neighborhood emerging in South Baltimore is looking to change that.
Many Baltimoreans are already familiar with the City Garage Science & Technology Center (which is, coincidentally, also BioBuzz’s home base), but there are other locations popping up around the Peninsula as well including Rye Street Market, where our 3rd Annual Awards Celebration & Symposium was hosted in May.
While BioBuzz was the first to host an event in their third floor event space of Building A, the space is much more expansive than what we saw and were able to showcase, with a cluster of four commercial buildings centered around a stunning urban square. Developed by MAG Partners, the building, which was formerly a boutique office space, is being retrofitted to accommodate everyone from small techs to lab users.
“We want to grow Baltimore’s piece of the pie when it comes to Maryland’s life science ecosystem,” said Scooter Monroe, VP of Office Leasing at MAG Partners. “Think of the investment dollars coming into Baltimore – how can we create new space to serve our local companies and keep them here in the city?”
The multi-floor buildings can accommodate tenants looking for anywhere from 2,000 square feet to occupying an entire floor (~30,000 square feet).
While right now the buildings are still office spaces, the infrastructure is well in place to accommodate spec lab spaces – shafts going up through the building can easily be fitted for HVACs and fume hoods. Beyond the scientific necessities, Rye Street Market will also have a fitness center, a kitchenette, large conference rooms and a central courtyard.
And make no mistake – Rye Street Market isn’t just another building in the middle of a large industrial complex. “You’re in an area with a vibrant and growing community that not only has access to great restaurants, but an unbeatable view of the water right outside your door,” said Monroe. There are also numerous apartments and retail spaces being developed for those who want to be close to work, but still in on the action Baltimore has to offer.
As of right now, MAG Partners has signed a Letter of Intent (LOI) for an undisclosed diagnostics company that will be occupying 2,700 square feet of space.
Interested in learning more and seeing if Rye Street Market could be your growing company’s next step? Check out this leasing brochure.
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Sarah Ellinwood is BioBuzz’s Managing Editor. A scientist by training and a science communicator at heart, Sarah specializes in making complex concepts understandable, engaging, and exciting. She received her Ph.D. in molecular and cellular biology with a focus in infectious disease immunology from the University of Maryland and is passionate about all things related to scicomm, peer mentorship, and women in STEM.