South Baltimore Business Roundup

| June 15, 2021 | 0 Comments

The Aquarium Pyramid to Get New Windows 

The iconic window pyramid at the National Aquarium at the Inner Harbor will get a facelift. From Baltimore Fishbowl:

The 40-year old pyramid roof of the National Aquarium in Baltimore is failing and in need of an $8 million replacement, becoming the second prominent glass feature of the city’s skyline to get an overhaul.

Aquarium operators are piecing together government and private funding to replace each of the 684 panes that make up the ceiling. The project gained urgency after reports in 2019 of glass falling from the Upland Tropical Rain Forest exhibit covered by the pyramid.

Also from the article:

Kim Lacomare, the aquarium’s vice president of communications, said repairs will be paid for with a combination of public and private funds, with construction hopefully starting in early 2022.

“The National Aquarium is working diligently to address critical capital needs in our 40-year-old facility including a plan to replace the original, ironic glass pyramid above the rain forest exhibit,” Lacomare said in an email message. “The double pane glass that makes up the rain forest pyramid has surpassed its usable life and must be replaced as soon as possible to ensure the safety of our guests, staff and animals.”

Downtown Building Sold, Will Become Headquarters 

10 N. Charles St. Downtown has been sold to Beltsville’s Alertus Technologies. The company will move its headquarters to the 36,886 sq. ft. building. From Baltimore Business Journal:

“It is a landmark facility and we want to show the state of the art [infrastructure systems] there,” Volk said. “Our goal is to retain the design of the building. We’re excited to be making the investment in downtown Baltimore and we’re happy to see the building come to life in a different way.”

Alertus spent $3.5 million last Friday for the property that was on the market for only a couple of months. It is planning to maintain the exterior character — including the ticker tape feed that wraps the facade — but redevelop the infrastructure to create a smart building that will hold one system for several functions like security, video monitoring

Days Inn Hotel in Downtown Under Contract 

The Days Inn Hotel – Baltimore Inner Harbor is under contract after an online auction that took place May 26th on RealINSIGHT Marketplace. The hotel remains open.

The Days Inn has nine stories and 249 rooms. It underwent a $1.7-million renovation in 2015.

Photo from RealINSIGHT Marketplace

Baltimore Companies Back on the Fortune 500 List

After a break from the Fortune 500 for nine years, Baltimore-area companies are back on the prestigious list. Downtown-based T. Rowe Price comes in at #447 with a with a 10.5 percent jump in sales in 2020. It has $1.6 trillion in assets under management. Last year the company just missed the list at #504.

Baltimore County businesses Sinclair Broadcast Group and McCormick also garnered the prestigious classification. Sinclair jumped 157 spots to #465, and McCormick jumped 41 spots to #482. Under Armour is in the top 600 at #578.

About Sinclair from Fortune 500:

The publicly traded telecommunications conglomerate owns or operates 186 television stations, in 87 U.S. markets that together account for 40% of American households. Sinclair makes its Fortune 500 debut this year.

About McCormick from Fortune 500:

A household name, McCormick sells spices and other cooking products worldwide, under brands such as Lawry’s, French’s, and Old Bay. It also develops flavors for food and beverage manufacturers and restaurants.

Transamerica Moving from Downtown to Harbor Point 

Transamerica is joining a number of businesses relocating from Downtown to Harbor East and Harbor Point. From Baltimore Business Journal:

The financial services giant has agreed to lease the 35,000-square-feet eighth floor in the Wills Wharf office building, according to an announcement by Armada Hoffler Properties Inc., a majority owner of the development. Transamerica’s move comes after the company directed its 550 downtown Baltimore employees to pack up their desks earlier this year at the company’s old digs at 100 Light St.

Also from the article:

The loss of Transamerica leaves a gaping hole in Baltimore’s tallest tower at 100 Light, where the company has occupied 125,109 square feet of space on eight floors since 2011. Building owner Corporate Offices Properties Trust declined to comment on the move.

Other businesses that have left Downtown for Harbor East and Harbor Point include Morgan Stanley and Legg Mason. T. Rowe Price will also soon make the move.

RBC Wealth Management Also Moving to Harbor Point

Add RBC Wealth Management to the relocation list as the company is moving into a 6,000 sq. ft. space at the Wills Wharf building. From Baltimore Business Journal:

The move will see RBC Wealth reduce its office footprint by nearly 50% — the company currently leases 11,100 square feet at 100 Light St. for its 75 employees, according to CoStar. RBC Wealth is a division of RBC Capital Markets — itself a subsidiary of Royal Bank of Canada.

Mike Crowell, Baltimore director at RBC Wealth, said the move to Harbor Point will offer the company “more opportunity for growth” and better access.

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About the Author:

Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at [email protected] and follow me on Twitter at @SoBoKevin.
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