Tech Start-Up Broadly Opens Baltimore Office
- Mar 22, 2019
Baltimore’s tech scene now includes Oakland, Calif.,-based start-up Broadly. The firm has opened its third nation-wide office in the Southeast Baltimore submarket, where it has recently leased a 7,500-square-foot space. Its plans are to hire 50 employees at the new location.
“The city certainly checks all the boxes. It’s a great community for tech companies to grow and thrive. We love the proximity to top-tier universities, technology leaders and the wider D.C. metropolitan area,” said Josh Melick, Broadly’s CEO & co-founder.
The office is located on the third floor of the Union Box Building, at 1820 Lancaster St. Originally built in 1920 as an industrial facility, the 50,000-square-foot property was converted to office in 1999. According to Yardi Matrix data, The Brick Cos. bought the building in 2007 from Union Box Co. in a portfolio sale, which also incorporated 1,699 square feet of office space at 1821 Thames St. The property is subject to a $3.5 million loan with CNO Financial Group.
The Southeast Baltimore submarket has one of the lowest vacancy rates in the metro with companies competing for space due to its proximity to the city’s highly educated workforce. Some firms, including The Foundery, prefer it to the more modern live-work-play communities such as the $5.5 billion Port Covington.
Image courtesy of Yardi Matrix