T. Rowe Price Relocating Headquarters from the Inner Harbor to Harbor Point

| December 1, 2020 | 0 Comments

T. Rowe Price Group, Inc. announced today it will relocate from its current headquarters at 100 E. Pratt St. to the Harbor Point development in Fells Point in 2024. T. Rowe Price has signed a 15-year lease for two buildings, totaling 450,000 sq. ft., that will be constructed by Beatty Development Group and Armada Hoffler Construction.

The new buildings are described as modern and green and will be constructed “to the firm’s specifications, allowing it to create customized space that best meets its needs and supports the firm’s collaborative culture.” In addition to office space, the buildings will include a client conference center and an auditorium.

In a statement T. Rowe Price said: “Relocating to Harbor Point will allow the firm to custom design its buildings with a true commitment to sustainability, in a premier location ideally suited to attract and retain top talent. It added, “located between Harbor East and Fell’s Point, Harbor Point is a vibrant and growing waterfront neighborhood in downtown Baltimore—with many amenities and services; ample green spaces; views of the harbor; and a campus-like atmosphere that seamlessly blends offices, retail, dining, and fitness options as well as residences and hotels in a dynamic and unique urban hub.”

T. Rowe Price will leave approximately 450,000 sq. ft. on Pratt St. Approximately 1,700 employees work at the headquarters.

100 E. Pratt St. is a 653,000 sq. ft. building with office and retail space and a parking garage. It was the former home to retail tenants Jos A. Banks and Brio Tuscan Grille. In addition to T. Rowe Price, PricewaterhouseCoopers leases office space in the building. It was purchased by Vision Properties in 2016 for $187 million.

Harbor Point is a 27-acre project that will have 3 million sq. ft. of total development. The master plan has 2,500 residential units, 600-plus hotel rooms, 1.6 million sq. ft. of office spaces, 250,000 sq. ft. of retail space, 3,300 parking spaces, and 9.5 acres of green spaces including the proposed Harbor Point Park. Four buildings have been completed at Harbor Point and six more are planned.

William J. Stromberg, president and CEO of T. Rowe Price, said in a press release: “T. Rowe Price is excited to make this commitment—it’s an investment in our people, in our clients, and in our community and continues our deep and long-standing connection to the City of Baltimore. In Harbor Point, we will have a vibrant campus-like atmosphere, with top-notch amenities and modern spaces designed to support the collaborative way we work with each other and with our clients.”

“T. Rowe Price is a true Baltimore institution, and their continued commitment to our city is nothing short of inspiring,” said Beatty Development Group President Michael Beatty in a press release. “Our team looks forward to working with T. Rowe Price to create an innovative, state-of-the-art global headquarters at Harbor Point that reflects the core values that the company is so well known for.”

In addition to its new headquarters, T. Rowe Price will retain and continue to invest in its facilities in Owings Mills.

100 E. Pratt St. 

Harbor Point

Harbor Point Rendering from Beatty Development 

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