Baltimore, MD (PRWEB) January 27, 2011 –
Under Armour, Inc. (NYSE: UA) today announced that it has agreed to purchase the Tide Point office complex, home of its corporate headquarters in Baltimore, Maryland. The transaction is expected to close in approximately 60-90 days, subject to satisfaction of various closing conditions.
Under Armour established its corporate headquarters at Tide Point in 2002. The company is currently a major tenant in the complex, leasing approximately 175,000 square feet of space at the approximately 400,000 square foot office complex, and anticipates taking additional space over time as its business expands. The complex is comprised of five adjoining buildings situated on approximately 14.6 acres along Baltimore’s Inner Harbor waterfront. Under Armour also leases approximately 140,000 square feet of office and showroom space across the street from the Tide Point office complex.
“Baltimore and the state of Maryland remain an important part of our heritage, history and success at Under Armour,” said Kevin Plank, Founder and CEO of Under Armour. “We are excited to fortify “Our House” at the Tide Point headquarters in Baltimore, as we build a multi-billion dollar global Brand."
About Under Armour, Inc.
Under Armour® (NYSE: UA) is a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories. The brand's moisture-wicking fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional products. The Company's products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe. The Under Armour global headquarters is in Baltimore, Maryland, with European headquarters in Amsterdam’s Olympic Stadium, and additional offices in Denver, Hong Kong, Toronto, and Guangzhou, China. For further information, please visit the Company's website at http://www.underarmour.com.