Spaces Bringing a 35,000 Sq. Ft. Co-Working Office to South Baltimore’s Stadium Square

| November 7, 2017 | 0 Comments

Stadium Square developer Caves Valley Partners (CVP) announced today that Spaces, an Amsterdam-born “creative workspace provider,” has signed a lease for about 35,000 sq. ft. of Class A office space at 145 W. Ostend St. Spaces will occupy more than two and a half floors of the six-story, 72,000 sq. ft. building, which is now more than 50% leased.

Spaces has locations throughout the world including several in the Washington, D.C. area. It provides co-working spaces for professionals looking for shared workspaces, dedicated desks, small offices, and meeting rooms. Spaces offers different levels of memberships and looks to facilitate connections between its members. Spaces also hosts events.

“We are thrilled to see the vibrant live, work, play environment that we envisioned coming to fruition as residents, retailers, and businesses realize the opportunities this dynamic mixed-use development has to offer,” said Arsh Mirmiran, partner with CVP, in a  press release. “We are eager to continue adding new commercial tenants and residents to further boost the economy of South Baltimore and fuel further revitalization as Stadium Square continues to emerge as Baltimore’s next great downtown district.”

“We are excited to introduce Spaces to the Baltimore business community and this is the perfect location to do so,” said Michael Berretta, vice president of network development, Americas at Spaces, in a press release. “Community, innovation, and energy are the hallmarks of the Spaces experience. Our members are attracted to the lifestyle we cultivate in our locations.”

“Spaces is an ideal addition to the tenant mix at Stadium Square,” said Bruce Matthai, managing director at Cushman & Wakefield, the brokerage firm representing CVP, in a press release. “We are excited about our ongoing discussions with creative class companies, government contractors, and traditional companies who are drawn to this project due to the unparalleled access to dark fiber connectivity, its ease of accessibility to all modes of transportation, direct access to the entire Baltimore-Washington corridor, and the Live-Work-Play lifestyle it offers for their employees.”

Spaces will join Janney Montgomery Scott, a large, national full-service financial services firm, which recently moved into an approximately 6,000 sq. ft. space in the building.

Stadium Square is on three blocks of South Baltimore and Sharp-Leadenhall located between Cross St. on the north, Race St. on the east, Leadenhall St. on the west, and both sides of Ostend St. to the south. The project will have approximately 600 apartments, 2,000 parking spaces, 450,000 sq. ft. of office space, and 75,000 sq. ft. of retail. The project’s first luxury apartment building, Hanover Cross Street, opened its doors this summer. Hanover Cross Street, which features 299 apartments, was developed, built, and is managed by Hanover Co.

The next project at Stadium Square will be the repurposing the former four-story Vac Pac building at 150 W. Ostend St. into a 30,000 sq. ft. office building with ground floor retail. The building has already undergone interior demolition and Mirmiran expects full construction to begin in the first half of 2018.

CVP is also teaming with Leadenhall Baptist Church on a new $1,000,000 community center on its property, and is working with the community and Baltimore City Recreation and Parks on a new Master Plan for Solo Gibbs Park and has led fundraising efforts for the project.

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