Merrill Lynch to move into IBM building

July 24, 1992|By Timothy J. Mullaney | Timothy J. Mullaney,Staff Writer

Merrill Lynch & Co. will move its Baltimore office to the IBM-T. Rowe Price building at 100 E. Pratt St. in the first major lease to come to the newly expanded building since 1990.

W. C. Pinkard & Co., the brokerage that holds the listing on the building, said the 630,000-square-foot building will now be 70 percent leased. The 300,000-square-foot addition is just over 50 percent leased, much of it to International Business Machines Corp. and T. Rowe Price Associates Inc., which are partners in the building.

The biggest current tenants are IBM, T. Rowe Price and the law firm Tydings & Rosenberg.

"It's really our first leasing since we did Tydings, which was a prelease deal," said L. Bruce Matthai, the W. C. Pinkard & Co. broker who is managing the building's leasing. "100 E. Pratt St. has picked up tremendous momentum since it was delivered."

Merrill Lynch, a brokerage company, signed a 10-year lease Tuesday for 27,000 square feet on the 22nd and 23rd floors of the 28-story building.

The company will be moving down the street in November from the Equitable Bank Center at 100 S. Charles St. Lease terms were not disclosed.

The building's owners also announced leases by two smaller tenants. Marlar International Inc., an executive search firm, leased 2,534 square feet on the 25th floor.

The Relocation Counseling Center, a division of Long & Foster Real Estate Inc., will move into 1,375 feet, also on the 25th floor.

Both of the smaller tenants are moving to the Inner Harbor area from the suburbs. Marlar is coming from Annapolis, Relocation Counseling Center from Hanover.

Mr. Matthai said the building's owners have one more lease signed, for about 5,000 square feet, and several more letters of intent to occupy a total of about 25,000 square feet.

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