This Week's Baltimore Deal Sheet
Trade credit insurer Allianz Trade plans to move its regional headquarters from Owings Mills in Baltimore County to the city's Harbor East neighborhood.
Allianz Trade's offices will occupy an entire floor at the 24-story tower at 100 International Drive, Harbor East Management Group announced this week. The company, backed by financial giant Allianz, expects 200 employees to start working from the new space in late 2023.
“Inside, our new office will feature an open concept so all employees can enjoy the floor-to-ceiling views of the Inner Harbor; outside, our team and visitors from across the globe look forward to taking advantage of all that the neighborhood has to offer,” Allianz Trade Americas President and CEO James Daly said in a statement.
Allianz Trade is the latest in a string of companies in recent years to relocate to Harbor East, which consists of 5.5M SF of development with retail, hospitality, residential and office space. Tenants who relocated include law firms DLA Piper, Saul Ewing Arnstein & Lehr, and Gordon Feinblatt. JP Morgan, T. Rowe Price and the Johns Hopkins Carey Business School also have offices at Harbor East.
“Allianz Trade’s commitment to move from Baltimore County to Harbor East underscores the vibrancy of Baltimore City and the appeal of Harbor East as a hub for worldwide business,” Harbor East Management Group President Tim O’Donald said in a statement.
SALES
Baltimore-based CityWide Properties has purchased the 80,406 SF White Marsh Professional Center for $11.8M. The deal includes $8.85M in financing arranged by commercial mortgage brokerage Eastern Union. The 42-unit property has a trio of two-story, multitenant office buildings.
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Rodier Family Law purchased 5 South Hickory Court in Bel Air for $640K. The law firm plans to use the building as its new headquarters. The firm was represented in the deal by Lee & Associates | Maryland's Kate Jordan, who has known Rodier Managing Principal Samantha Rodier since they met as pre-kindergarten classmates at Harford Day School roughly 40 years ago.
LEASES
Point Restaurant Group has signed a 2K SF office lease to move its headquarters to Baltimore's Gas Light Square. Lee & Associates | Maryland's Kate Jordan and Marley Welsh represented the tenant and landlord in the deal. Point Restaurant Group includes The Point in Fells, The Point in Towson, The Point Catering and The Blind Tiger Mobile Bar.
THIS AND THAT
The Baltimore Symphony Orchestra is exploring possible future uses for its shuttered Cathedral Street Garage property near the Joseph Meyerhoff Symphony Hall and Lyric Baltimore, Baltimore Fishbowl reports. Nonprofit entity Baltimore Symphony Endowment Trust owns the garage and is exploring options for the property that was closed in February.
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The Annapolis Market House operators started making back rent payments to the city after they failed to do so three of the last five years, the Baltimore Sun reports. The operators of the City Dock venue, New Market House LLC, recently forked over $25K in unpaid performance rent, the city's finance director told a pair of city committees.
PERSONNEL
Continental Realty Corp. has promoted Kristen Koritzer to senior property accountant. Koritzer joined CRC in 2016 and previously worked as a property accountant.
