BTR Realty Inc. said yesterday that it has leased a full floor of the five-story Gateway International II office complex at Baltimore-Washington International Airport to the American Telephone & Telegraph Co., pushing up occupancy at the struggling building to about 60 percent.
"It's not a see-through building anymore," said Carolyn Brown, a spokeswoman for a public relations firm retained by the Linthicum developer.
The 125,000-square-foot building is 15 months old, and its high vacancy rate has been a problem for BTR, a publicly traded company whose stock has fallen sharply since the real estate recession began. The company's stock closed unchanged yesterday at $2.
BTR said four divisions of AT&T will occupy the space at Gateway, where other tenants include Digital Equipment Corp., Mellon Bank, Delta Air Lines and BTR's own headquarters.
The 100,000-square-foot Gateway I building is fully leased.