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By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | September 2, 1992
Maryland National Mortgage Corp. agreed Monday to lease more than 83,000 square feet of office space at the Candler Building at 111 Market Place.It was the Baltimore area's biggest private-sector office lease of the year and the biggest downtown since 1989.The 10-year deal, announced yesterday, brings the occupancy of the renovated former Coca-Cola warehouse to more than 70 percent and puts the project more solidly in the black."On an operating basis, we do better than break even," said Thomas Ragno, director of leasing for Beacon Management Co., which manages Candler for GE Investments, an in-house adviser to General Electric Co.'s pension fund.
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By Frederick N. Rasmussen, The Baltimore Sun and Baltimore Sun reporter | March 15, 2011
Lois F. Honick, a retired Social Security Administration management analyst, died Sunday of cancer at Keswick Multi-Care Center. She was 85. Lois Fessenden, the daughter of a Navy Department worker and a homemaker, was born in Washington and moved with her parents to Hyattsville in 1932. She was a 1942 graduate of McKinley Technical High School and earned a bachelor's degree in 1946 in psychology from American University. After graduating from college, she worked as an attendant at the old Chestnut Lodge Psychiatric Hospital in Rockville, and then for a Community Chest organization that provided medical care funds for the indigent.
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BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 4, 1996
An affiliate of the General Electric Co. has received 16 offers to purchase the Candler Building, the 12-story office tower downtown that the Connecticut-based conglomerate began marketing in January.The majority of the bids were submitted by entrepreneurs seeking to take advantage of GE Investment Corp.'s willingness to sell the 111 Market Place property at a steep discount.The bids all fell within 10 percent of the $22.8 million asking price."We hope to have someone in the winner's circle by mid-April," said Philip C. Iglehart, the Colliers Pinkard principal representing GE Investments.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun and Baltimore Sun reporter | October 2, 2010
Margaret W. Todd, an artist and dressmaker, died Sept. 25 of a heart attack at Gilchrist Hospice Care. She was 82. Margaret Weldon, whose father was the owner and manager of the Candler Building and whose mother was a homemaker, was born in Baltimore and raised in Govans. She was a 1946 graduate of Eastern High School and studied art in Baltimore. The next year, she married Claude W. Todd Jr., who worked for the old Chesapeake & Potomac Telephone Co. The couple settled into a home on Yarmouth Road in Wiltondale, where they raised their family and she worked as a designer and a dressmaker.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 25, 1997
In what would be one of the largest office leases downtown in a decade, Sierra Military Health Services Inc. intends to establish a regional headquarters with roughly 330 employees in the 12-story Candler Building by January.Under terms of a letter of intent between the Candler Building's owner and Sierra, the health care provider will lease 83,000 square feet -- or 16 percent of the building -- through 2008.Sierra's lease, expected to be signed next week, is valued at roughly $12.5 million.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | November 4, 1997
Baltimore Gas and Electric Co.'s electric power marketing subsidiary intends to establish its headquarters downtown in the 12-story Candler Building, part of a push by the utility company to diversify into new businesses and compete nationally.Constellation Power Source's plan to move to the 111 Market Place building by March represents the second major office lease at Candler in the past month, after Sierra Military Health Services Inc. committed to create a regional headquarters with 330 employees there.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | January 17, 1998
Spurred by renewed investor interest in downtown office properties and the lure of abundant capital searching for real estate, the Washington, D.C., owners of the Candler Building have begun marketing the 12-story tower for sale for around $65 million.But if it seems like just yesterday that the Meridian Group Inc. bought the 111 Market Place office building, it practically was.Of course, when Meridian acquired the former Coca-Cola Co. warehouse from an affiliate of the General Electric Co. for $21.8 million some 18 months ago, the building was one-third empty and businesses were leaving downtown for dead.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | August 2, 1996
A Washington investment firm yesterday purchased the 12-story Candler Building, a $21.8 million gamble that the Market Place area downtown will revive because of a series of new public and tourist-oriented projects.The odds are potentially long. The Meridian Group Inc.'s acquisition comes as a pension affiliate of the powerful General Electric Co. decided to abandon Candler after 10 years and investing more than $60 million into one of downtown's largest structures."We believe Candler represents a unique investment opportunity and that we obtained an outstanding value, and it's the type of value-added opportunity that we seek," said Meridian President G. David Cheek, whose firm bought the building with Brookwood Financial Corp.
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 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 MELISSA HARRIS | May 19, 2006
A decade ago, the Social Security Administration lent its sister agency four very valuable items for its 30th anniversary: a pen that President Lyndon B. Johnson used to sign the Medicare Act into law, the gavel used in the House of Representatives to mark the act's passage, and the first two Medicare beneficiary cards - owned and signed by President Harry and first lady Bess Truman. Officials at the Centers for Medicare & Medicaid Services wanted to keep them. Larry DeWitt made sure they got only the pen. A civil servant for 29 years, DeWitt is the Social Security Administration's historian and is quite protective of his agency's collection of memorabilia, kept in a small, first-floor museum just around the corner from the main building's metal detector.
NEWS
December 8, 2005
John M. Weldon, former manager of the historic Candler Building in downtown Baltimore and active member of the Building Owners and Managers Association, died of multiple myeloma Saturday at Gilchrist Center for Hospice Care. The White Marsh resident was 66. Mr. Weldon was born in Baltimore and raised on East Lake Avenue in North Baltimore. He was a 1957 graduate of City College and served in the Army as a military policeman from 1957 to 1960. In the early 1960s, Mr. Weldon joined his father, Stewart G. Weldon, who established S.G. Weldon Co., a real estate management firm, in 1961.
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 Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | August 9, 2005
Aon Corp. will keep its 180 Baltimore employees downtown in a deal to become the third anchor tenant in the Inner Harbor's newest office tower - the latest signal of an eastward expansion of the central business district. The huge Chicago-based insurance brokerage said yesterday that it has capped a yearlong search for new quarters with plans to move its Baltimore office next winter to 500 E. Pratt St. The 275,000-square-foot building was completed last fall. Aon, formerly Alexander & Alexander, has housed two subsidiaries, Aon Risk Services and Aon Consulting, in the Candler Building at 111 Market Place for the past 15 years.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 4, 2005
Constellation Energy plans to extend its lease in the historic Candler Building in downtown Baltimore for another decade, adding more space for anticipated job growth, the Baltimore-based energy company said yesterday. Constellation's lease of 180,000 square feet in the building at 111 Market Place was set to expire in 2008. Under the new agreement, announced yesterday, the company will take an additional 7,000 square feet through 2018. Company officials said they need additional space to accommodate growth in Constellation's competitive energy ventures, which supply and manage energy for businesses and utilities nationally.
NEWS
By June Arney and June Arney,SUN STAFF | September 23, 2003
When Tropical Storm Isabel swept through Baltimore, it left 16 feet of water in the basement of the World Trade Center, threw the lives of the 800 people who work there into chaos and destroyed the building's electrical and communications systems. The 60 tenants of the 27-story building spent the weekend and yesterday scrambling to find places with telephones and e-mail capability where they could do business for the next month or longer. Damage at the state-owned building at 401 E. Pratt St. has not been fully assessed but is estimated to be in the millions of dollars.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | January 13, 1996
An affiliate of the General Electric Co. intends to sell downtown's largest office building after 10 years of ownership, a move that will recoup only a fraction of its $60 million investment.GE Investments Corp.'s decision to sell the 12-story Candler Building is perhaps the largest in a series of signs spotlighting the slow, continuous deterioration of Baltimore's office market.Among major cities, Baltimore ranks as one of the worst performers in regards to its white-collar job growth and the occupancy rate for office space, according to recent studies by Lehman Bros.
NEWS
December 8, 2005
John M. Weldon, former manager of the historic Candler Building in downtown Baltimore and active member of the Building Owners and Managers Association, died of multiple myeloma Saturday at Gilchrist Center for Hospice Care. The White Marsh resident was 66. Mr. Weldon was born in Baltimore and raised on East Lake Avenue in North Baltimore. He was a 1957 graduate of City College and served in the Army as a military policeman from 1957 to 1960. In the early 1960s, Mr. Weldon joined his father, Stewart G. Weldon, who established S.G. Weldon Co., a real estate management firm, in 1961.
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