Last week, The Baltimore Peninsula ownership group announced new leases for law firm Whiteford, Taylor & Preston and Truist Bank, totaling approximately 50,000 sq. ft. Both businesses will relocate from Downtown offices.
Whiteford, Taylor & Preston signed an approximately 33,500 sq. ft. lease on the second floor of the 2455 House Street office building. Truist Bank has signed an approximately 16,500 sq. ft. lease on the sixth floor of Rye Street Market office building. Both of the leases are “in excess of 10 years.”
These two leases bring the development’s 440,000 sq. ft. of office space to 75 percent leased, according to the ownership group comprised of Sagamore Ventures and Goldman Sachs Asset Management Urban Investment Group, alongside Hines as asset management partner.
“The flight to quality continues to shape office leasing in Baltimore, as tenants prioritize elevated workplaces, thoughtfully designed amenities, and vibrant, activated neighborhoods,””” said Andrew McGeorge, senior managing director at Hines, in a press release. “These two office leases reflect that demand and the desire to be in the Baltimore Peninsula neighborhood. We appreciate the collaboration and partnership of Cushman & Wakefield, Goldman Sachs, and Sagamore Ventures in driving continued success at Baltimore Peninsula.”
“We are excited to join the growing community of businesses that have chosen Baltimore Peninsula as their new home,” said Alex Neifert, co-managing partner with Todd Brooks of Whiteford’s Baltimore office, in a press release. “As a law firm with deep roots in Baltimore, we were looking for a location reflecting both our commitment to Baltimore and our vision for Whiteford in the region. Baltimore Peninsula offers exactly that—modern, well-designed office space in a dynamic waterfront neighborhood. We look forward to being part of this exciting new chapter in Baltimore’s story.”
“Baltimore has long been a strategic market for Truist, and our move to Baltimore Peninsula is another affirmation of that commitment,” said T.J. Hughes, regional president for Truist Bank, in a press release. “This new space creates opportunities for greater collaboration among our teammates while reinforcing our belief in Baltimore’s future and the power of investing where we live and work.”
2455 House Street is an eight-story, 221,500 sq. ft. building with ground-floor retail. The building’s tenants include CFG Bank, Insight Global, and Ayers Saint Gross, alongside ground-floor retail such Daily Grind and Molly’s Dog Care with a branch of CFG Bank coming soon. The building’s amenities include a rooftop deck, a first-floor courtyard, and a fitness center.
Rye Street Market is a 273,000 sq. ft. building with ground-floor retail. Office tenants include the University of Maryland, Chambers, Disaronno, Jacobs Engineering, Longeviti, Newmark, One Bar Mining, PwC, Volo, Strayer University, and DecisionPoint. Retail tenants include Slutty Vegan, Bar Vegan, and Jersey Mike’s. Live-K Karaoke and Urbano Tex-Mex are anticipated to open later this year. The building also has a third-floor event space run by Clyde’s Restaurant Group.
Photo courtesy of Baltimore Peninsula
