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By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 17, 1997
IBM Corp. is expected to sell its 28-story skyscraper at 100 E. Pratt St. by the end of this month for roughly $137 million, a record price for a downtown Baltimore office project.The anticipated acquisition of the office tower by Boston Properties Inc. would represent the height of the region's four-year office market recovery, local commercial real estate analysts said.Although the high-water mark stems from rising rents and the strength of white-collar job growth in Baltimore, analysts said the project's location across from the Inner Harbor, combined with its size and age, contributed to the sale price.
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NEWS
By MATTHEW DOLAN and MATTHEW DOLAN,SUN REPORTER | November 19, 2005
Federal prosecutors opened a new front against Thomas L. Bromwell yesterday when a downtown property manager accused the former state senator of helping to rig bids, steer contracts and collect kickbacks for overpriced construction work. Evidence revealed yesterday includes secretly recorded conversations involving Bromwell in which prosecutors say payoffs were discussed. James G. Eick, who worked for Boston Properties at the Candler Building, pleaded guilty in U.S. District Court in Baltimore to one count of mail fraud.
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BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 23, 1998
A Boston real estate investment trust snapped up the Candler Building yesterday for roughly $61 million, its second major downtown office purchase in the past year.Boston Properties Inc.'s acquisition of the 12-story office tower at 111 Market Place marks the latest in a series of signs of renewed interest in the city's commercial real estate market.The purchase of the Candler Building, a former Coca-Cola Co. warehouse, fits with Boston Properties' strategy of dominating local markets through multiple holdings, analysts said.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 3, 2005
A high-profile office tower at Baltimore's Inner Harbor is under contract for $207.5 million - which would be the highest price tag ever for a Baltimore office property. Georgia-based Wells Real Estate Investment Trust II Inc. has signed an agreement to buy the 28-story building at 100 E. Pratt St., considered one of downtown's most desirable properties, according to documents it filed last month with the Securities and Exchange Commission. The sale is scheduled to close May 10. Wells paid a nonrefundable $6 million deposit, to be applied to the purchase price.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 24, 1997
A Boston-based real estate investment trust has completed the $137 million purchase from IBM of one of downtown's signature skyscrapers, the trust announced yesterday.The price Boston Properties Inc. paid for the 28-story office tower at 100 E. Pratt St. set a record for the sale of a single Baltimore office building and represents the zenith of the area's 4-year-old commercial real estate recovery.The only other commercial real estate sale of $100 million in Baltimore came in 1984, when a New York investment group spent that much to purchase the 35-story USF&G Tower at 100 Light St., which was then the insurer's headquarters.
NEWS
August 18, 2003
Canter appointed a vice president of Columbia Bank Robert Canter has been promoted to vice president, acquisition, development and construction lending for Columbia Bank, a commercial bank with headquarters in Howard County. Formerly assistant vice president of ADC lending, he has been with the bank since 1999. He was initially hired as a credit officer. As vice president, he will continue establishing and strengthening business relationships with homebuilders and developers in the area.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | December 12, 2000
T. Rowe Price Associates Inc. has leased another floor in its Pratt Street building to accommodate the mutual fund company's growth, the company said yesterday. The space was vacated by Fidelity & Guaranty Life Insurance, which is moving to Inner Harbor East. The additional 29,564 square feet on the second floor at 100 E. Pratt St. brings Price's total to more than 300,000 square feet, or almost half the 28-story building. The company also leases space on St. Paul Street and in Owings Mills.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | January 30, 2003
One of Baltimore's largest office buildings, the Candler Building at 111 Market Place, has been sold for about $65 million, adding another to the list of local properties scooped up by investors eager for stable returns. The deal's broker said yesterday that the building was bought by HRPT Properties Trust, a Boston real estate investment trust. It's the second property in the city bought by the trust, which also owns one of the towers at 100 S. Charles St. Though the price was more than the $50.2 million commanded by the 25-story First Union Tower at Light and Baltimore streets that was sold this week, it was less per square foot - $116 vs. $132.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 3, 2005
A high-profile office tower at Baltimore's Inner Harbor is under contract for $207.5 million - which would be the highest price tag ever for a Baltimore office property. Georgia-based Wells Real Estate Investment Trust II Inc. has signed an agreement to buy the 28-story building at 100 E. Pratt St., considered one of downtown's most desirable properties, according to documents it filed last month with the Securities and Exchange Commission. The sale is scheduled to close May 10. Wells paid a nonrefundable $6 million deposit, to be applied to the purchase price.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | February 16, 2003
Boston Properties' $1 billion purchase of a Park Avenue office tower in Midtown Manhattan was more than the nation's biggest deal of 2002. At $679 per square foot, it was the highest price many real estate industry professionals could recall for an office building. But despite the stagnant economy, no gasps came from onlookers. There was only acknowledgement that prices are up and bound to go even higher for the best buildings in the best markets around the country as investors shift money to real estate.
NEWS
By Scott Calvert and Scott Calvert,SUN STAFF | June 28, 2004
It was a dark and stormy night, and officials at Verizon Communications, T. Rowe Price and other downtown Baltimore corporate giants met over dinner to do something they had never done before. At Harborplace's M&S Grill, they collectively focused on flowers. And the plan they hatched, much sunnier than the evening's steady rain, was to turn the somewhat barren McKeldin Plaza into a prettier place. The result is an $18,000 replanting to beautify the Inner Harbor's paved doorstep, daily traipsed upon by thousands of baseball fans, office workers and conventioneers.
NEWS
August 18, 2003
Canter appointed a vice president of Columbia Bank Robert Canter has been promoted to vice president, acquisition, development and construction lending for Columbia Bank, a commercial bank with headquarters in Howard County. Formerly assistant vice president of ADC lending, he has been with the bank since 1999. He was initially hired as a credit officer. As vice president, he will continue establishing and strengthening business relationships with homebuilders and developers in the area.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | February 16, 2003
Boston Properties' $1 billion purchase of a Park Avenue office tower in Midtown Manhattan was more than the nation's biggest deal of 2002. At $679 per square foot, it was the highest price many real estate industry professionals could recall for an office building. But despite the stagnant economy, no gasps came from onlookers. There was only acknowledgement that prices are up and bound to go even higher for the best buildings in the best markets around the country as investors shift money to real estate.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | January 30, 2003
One of Baltimore's largest office buildings, the Candler Building at 111 Market Place, has been sold for about $65 million, adding another to the list of local properties scooped up by investors eager for stable returns. The deal's broker said yesterday that the building was bought by HRPT Properties Trust, a Boston real estate investment trust. It's the second property in the city bought by the trust, which also owns one of the towers at 100 S. Charles St. Though the price was more than the $50.2 million commanded by the 25-story First Union Tower at Light and Baltimore streets that was sold this week, it was less per square foot - $116 vs. $132.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | December 12, 2000
T. Rowe Price Associates Inc. has leased another floor in its Pratt Street building to accommodate the mutual fund company's growth, the company said yesterday. The space was vacated by Fidelity & Guaranty Life Insurance, which is moving to Inner Harbor East. The additional 29,564 square feet on the second floor at 100 E. Pratt St. brings Price's total to more than 300,000 square feet, or almost half the 28-story building. The company also leases space on St. Paul Street and in Owings Mills.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 23, 1998
A Boston real estate investment trust snapped up the Candler Building yesterday for roughly $61 million, its second major downtown office purchase in the past year.Boston Properties Inc.'s acquisition of the 12-story office tower at 111 Market Place marks the latest in a series of signs of renewed interest in the city's commercial real estate market.The purchase of the Candler Building, a former Coca-Cola Co. warehouse, fits with Boston Properties' strategy of dominating local markets through multiple holdings, analysts said.
NEWS
By MATTHEW DOLAN and MATTHEW DOLAN,SUN REPORTER | November 19, 2005
Federal prosecutors opened a new front against Thomas L. Bromwell yesterday when a downtown property manager accused the former state senator of helping to rig bids, steer contracts and collect kickbacks for overpriced construction work. Evidence revealed yesterday includes secretly recorded conversations involving Bromwell in which prosecutors say payoffs were discussed. James G. Eick, who worked for Boston Properties at the Candler Building, pleaded guilty in U.S. District Court in Baltimore to one count of mail fraud.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | November 10, 1992
The developers backing a proposed downtown site for the new home of the U.S. Health Care Financing Administration have filed a third appeal in their attempt to overturn an earlier decision to build the HCFA's home in Woodlawn.The move could delay resolution of the appeals until March.The appeal by Inner Harbor West Joint Venture, which proposed building a 22-story tower just north of Oriole Park at Camden Yards, asks the U.S. General Accounting Office to review the decision to award a $122.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | January 18, 1998
Fueled by a stable local economy and anticipated job growth, Baltimore's commercial real estate market will continue to surge ahead this year, local analysts predict.Unlike the past years of this decade, though, the coming 12 months will be ones in which developers will begin new office projects, in reaction to a dearth of new construction, shrinking vacancies and increasing rent rates throughout the metropolitan area."We're in a recovery mode in all sectors," said Anthony W. Deering, chairman and chief executive of the Rouse Co., the Columbia-based real estate concern that controls the 28-story Legg Mason Tower and Harborplace downtown and a collection of office buildings and retail malls in the suburbs.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 24, 1997
A Boston-based real estate investment trust has completed the $137 million purchase from IBM of one of downtown's signature skyscrapers, the trust announced yesterday.The price Boston Properties Inc. paid for the 28-story office tower at 100 E. Pratt St. set a record for the sale of a single Baltimore office building and represents the zenith of the area's 4-year-old commercial real estate recovery.The only other commercial real estate sale of $100 million in Baltimore came in 1984, when a New York investment group spent that much to purchase the 35-story USF&G Tower at 100 Light St., which was then the insurer's headquarters.
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