KLNB Realtors leaving city for Towson

June 03, 1993|By Timothy J. Mullaney | Timothy J. Mullaney,Staff Writer

KLNB Realtors said yesterday that it would relocate to Towson from Baltimore, moving one of the city's largest commercial real estate brokerage firms out of town in a move its president described as a response to changing markets.

KLNB plans to move Sept. 1 to 100 West Road in Towson, just south and west of the York Road exit of the Beltway, President Thomas C. Martel said.

The company expects to lease 10,000 square feet of the building, which also holds the headquarters of Atlanfed Bancorp Inc., parent of Atlantic Federal Savings & Loan. The brokerage firm is now in the Blaustein Building at 1 N. Charles St.

"Our business is not in downtown Baltimore to any great degree," said Mr. Martel, whose firm is more active in brokering retail and industrial buildings than the office buildings that are the staple of downtown's commercial market. "The industrial is in the Baltimore-Washington corridor. And the northeast corridor in Harford County is a hot area."

Much of the firm's retail business is driven by a handful of large chains such as Hechinger Co. and Wal-Mart Stores Inc., Mr. Martel said, and few of those clients look for downtown real estate.

KLNB's move out of town had been expected for months, with the question primarily surrounding where the firm would move. Thirty-six people who work in its downtown brokerage office and the property management division on Joh Avenue in Southwest Baltimore will relocate to Towson.

KLNB's Columbia office is not affected by the move.

Mr. Martel said the choice came down to the West Road building and Timonium One, a Greenspring Drive project owned by developer Leroy Merritt and by David Bavar, who was an active partner in KLNB until setting up a new business earlier this year.

"The big thing was access for our people," he said. "Most of them live along the Beltway" and easy access also meant an easier drive to properties the firm leases, which are as far north as Delaware and as far south as Virginia.

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