Investment Overview

Owings Mills, Maryland is a suburb 20 miles northwest of Baltimore that serves as a key residential hub in the region with a population of 74,573 within the sub¬ject trade area. The area features a diverse array of major employers including T. Rowe Price, the Baltimore Life Companies, and CareFirst BlueCross BlueShield, contributing to a robust employment base. Owings Mills is home to Stevenson University, which boasts a total enrollment of over 3,500 students and is renowned for its strong programs in nursing, busi¬ness, and the sciences. The suburb is also home to a satellite of three campuses of the Community College of Baltimore County system (CCBC) and a branch of the ITT Technical Institute. Other nearby educational institutions, such as the University of Maryland, Baltimore County (UMBC), and the Community College of Baltimore County (CCBC), support a well-educated workforce, with over 35 percent of residents holding a bachelor’s degree or higher. Recent development projects have significantly boosted Owings Mills’ appeal as a desirable place to live and work. Mill Station, a 620,000-square-foot retail devel¬opment, replaced the former Owings Mills Mall, which was demolished in 2017. The first retailer, Costco, opened its doors in October 2018. This development is near the Metro Centre, a notable mixed-use development that has transformed the area, offering new residential units, retail spaces, and office buildings. Opened in phases since 2013, Metro Centre includes luxury apartments, 1.2 mil¬lion square feet of office space, and a public library, positioning itself as a central point for business and community activities. Another major development is Foundry Row, a $140 million project that revitalized the former Solo Cup manu¬facturing site. Opened in 2016, Foundry Row features a Wegmans grocery store, retail shops, restaurants, and medical offices, creating a lively community space that attracts both residents and visitors. that attracts both residents and visitors. In addition to these retail hubs, Owings Mills is home to the Irvine Nature Center, located in the Caves Valley Historic District, offering environmental education and nature programs since its relocation in 2008. The community also includes the historic Rosewood Center, previously an asylum closed in 2010. Stevenson University acquired this property in 2017 and is redeveloping it as part of their campus expansion, known as Owings Mills East. The suburb also boasts high-quality healthcare facilities. The LifeBridge Health Center at Foundry Row is a modern, 60,000-square-foot facility offering compre¬hensive medical services, including primary care, specialty care, and outpatient surgery. This center is part of the larger LifeBridge Health system, which in¬cludes Sinai Hospital, Northwest Hospital, and Carroll Hospital, ensuring resi¬dents have access to top-tier healthcare close to home. Owings Mills is also a business hub, housing several well-known companies such as CareFirst, T. Rowe Price, Lion Brothers, The Baltimore Life Companies, Talbot Settlement & Escrow, Black & Decker, the Baltimore Ravens headquarters, and Maryland Public Television studios. The Owings Mills community is known for its growing diversity, with the area home to a wide range of ethnicities and backgrounds. Additionally, Owings Mill’s growing prosperity has been in line with the area’s development in recent years as the median household income has grown to $109,266. Spanning approxi-mately 9 square miles, Owings Mills offers a suburban atmosphere with a blend of urban amenities and scenic green spaces. Its proximity to major highways and public transportation, including the Owings Mills Metro Station, makes it a convenient location for commuting to Baltimore and other nearby business hubs. The suburb’s blend of affordability and quality of life makes it an attractive destination for families, young professionals, and retirees alike. The suburb’s median home value offers a more affordable alternative to nearby metropolitan areas while maintaining a high standard of living, hovering around $439,320.