News
LAB COATS NOT REQUIRED
February 1, 2011
| Yesterday, the University of Maryland Medical System inked a 58k SF renewal and expansionat 250 W. Pratt St, below. That brings the building to 89% occupancy. |
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| Cushman & Wakefield's Tim Jackson repped landlord Behringer Harvard (CBRE's Kevin Wille was on the tenant side) and tells us UMMS will consolidate its administrative arm from several spots, including down the street at 29 S. Paca (only 10k SF of the deal is renewal space). He says talks started last April, ?but we've thought they had expansion potential for the past four or five years.? |
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| Tim (in his downtown office with a view of the Power Plant) tells us the landlord will deliver the space in turnkey condition and build-out costs are significant (move-in will probably be Q2'11). He estimates rent for comparable space at $25/SF and says the deal gave him a welcome respite from shoveling last week. We feel your pain. |
