The Big Six accounting firm of Price Waterhouse will relocate its Southeast regional training office and management consulting practice from Columbia to a Linthicum office complex by mid-December.
The firm signed a 10-year lease for 17,855 square feet of space in the five-story Gateway International II, said Gregory E. Masi, who represented Mid-Atlantic Realty Trust, the owners of Gateway, in the transaction. The lease, signed Oct. 12, was worth $3 million, he said.
The move involves 120 employees of the accounting firm, many of whom travel frequently. Working in Linthicum will ease access to Baltimore-Washington International Airport and Amtrak, Price Waterhouse spokeswoman Karen Webster said.
"This speaks volumes about how important it is to make sure the airport is competitive with those in the region," said Michael Lofton, executive vice president of the Anne Arundel Economic Development Corporation. "If it weren't, you might be writing about Price Waterhouse going to Dulles" International Airport in Northern Virginia.
The lease with the accounting firm, which brings the occupancy rate at Gateway to 90 percent, is being touted by real estate agents as one of the largest new office transactions of the year to occur in Anne Arundel County.
Tenants such as AT&T, Digital Equipment, Mellon Bank and American Express already occupy Gateway II.
"Price Waterhouse is obviously icing on the cake," said Mr. Masi.
Price Waterhouse, which now operates in the Rouse Co.'s five-story Amdahl Building in Columbia, will share the fifth floor of Gateway with American Express.