Baltimore Office Asset Strengthens Tenant Roster
- Nov 22, 2019
Cushman & Wakefield has signed a new lease and two renewals at 25 South Charles, a 359,000-square-foot office building in Baltimore. The property has welcomed new tenant Thomas & Libowitz and will continue to house Rosenberg Martin Greenberg and AT&T. The combined leases amount to roughly 50,000 square feet.
Grander Capital Partners acquired the asset located at 25 S. Charles St. in a joint venture with Boston Andes Capital in 2017. Equity Commonwealth sold the property for $24.5 million, while Webster Bank provided a $17.3 million acquisition loan, according to Yardi Matrix data.
The landlord has executed major interior improvements on the building including an upgraded main lobby, elevators as well as remodeled restrooms. A gym, conference center and covered bike storage were also added. Moreover, an exterior facade renovation is slated for completion in early 2020.
Built in 1972, the 22-story asset is situated on 0.6 acres in Baltimore’s central business district and is close to the Inner Harbor. Numerous dining, retail and hotel options are within walking distance.
Cushman & Wakefield’s Senior Managing Director Bruce Matthai and Directors Brian Wyatt and Bronwyn LeGette represented the landlord in the lease negotiations. JLL and another Cushman & Wakefield team worked on behalf of the tenants.