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BUSINESS
By Steve Kilar, The Baltimore Sun | May 27, 2013
Developer J. Joseph Clarke has come up with a half-dozen ideas over the past 20 years - a hotel, corporate headquarters, residences, office space - for a prominent downtown site three blocks from the Inner Harbor. But none took hold. He hopes this time will be different. So do city leaders whose patience is wearing thin with Clarke and the owner of the site, a parking lot at the corner of Light and East Redwood streets "I wish it weren't the case that it's gone on this long," said Clarke, president of J.J. Clarke Enterprises Inc. "We think that this is the best proposal that we can make for this site at this time.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 30, 2013
Legg Mason Inc. reported Tuesday that it earned $29.2 million in its fourth quarter, down about 62 percent from a year earlier due to added real estate expenses. The Baltimore-based money manager's results still beat analysts' expectations, and its stock ended the day up 48 cents at $31.86 per share. On a per-share basis, Legg earned 23 cents, exceeding analysts' expectations by 3 cents per share for the three months ended March 31. A year earlier, Legg earned $76.1 million, or 54 cents per share.
NEWS
By Pamela Wood, The Baltimore Sun | April 29, 2013
A vacant building in a prime location at Annapolis City Dock is about to be sold. An investment group led by Mark Ordan, CEO of Sunrise Senior Living, has signed a deal to buy the former Fawcett Boat Supplies building at 110 Compromise St. The building sits in a key spot in downtown Annapolis and will figure into the city's plans to redevelop the City Dock area. Terms of the deal have not been disclosed, and Ordan said it won't be final until the proposal passes a five-month study period "to make sure we have the support and cooperation of the city and the various constituents.
BUSINESS
By Steve Kilar, The Baltimore Sun | April 27, 2013
Standing amid his $44 million refurbished textile mill, now nearing completion, developer and one-time mayoral candidate David Tufaro observed a bird wading in the Jones Falls nearby. "That's our great blue heron," Tufaro said. Water birds fly up and down the Jones Falls between the two sides of the mill, which straddles the stream. So he insisted that an image of one be included on the rooftop sign that faces Interstate 83, announcing the presence of the commercial-residential complex called Mill No. 1. When residents begin moving into the converted mill early next month, the valley between the Baltimore neighborhoods of Woodberry and Hampden will shift from being a predominantly industrial area to being an extension of the surrounding neighborhoods.
NEWS
By Arthur Hirsch, The Baltimore Sun | March 21, 2013
Paul Capriolo and the crew at Social Growth Technologies are looking forward to graduation, having spent years getting ready for the world outside this one-story beige building in Columbia. The Maryland Center for Entrepreneurship is not a school, but it does cultivate business and launch its charges toward bigger things. In fall 2009, Capriolo, partner Patrick Jenkins and an intern started in one office at the building; the company now has 22 employees, occupying about a dozen offices and some 5,000 square feet - a third of the space available for lease at MCE. By this summer, they expect to move to offices in Columbia three times that size.
NEWS
By Alison Knezevich, The Baltimore Sun | March 17, 2013
The long-planned Metro Centre in Owings Mills is set to finally stir to life this week with the opening of Baltimore County's largest library. Officials envision the library branch, to open in a building called the County Campus next to the Owings Mills subway station, as the anchor of a cluster of shops, restaurants and apartments that they have long hoped would form a new center in the northwestern suburb. Also planned for the County Campus are dozens of classrooms and offices for the Community College of Baltimore County.
NEWS
March 10, 2013
State Sen. Robert A. Zirkin has shown his true colors by taking on Columbia Gas' proposed new natural gas transmission pipeline ("Senator, gas company clash over pipeline," March 3). Isn't it funny that he only fights the gas line when it comes across his property - and then tells the gas company to move it onto someone else's property? He even tried to go after one of the lobbyists' wives with a special bill crafted to only affect her. I thought he was just pompous, but now I see by his disregard for the people who elected him that he is arrogant as well.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 5, 2013
Legg Mason Inc. might eliminate some of its less popular investment funds and some of its 32 offices as it continues to look at ways to operate more efficiently, the chief financial officer of the Baltimore-based money manager said Tuesday. CFO Pete Nachtwey comments about cost-cutting came in response to a question at a Citigroup financial conference in Boston. He said Legg now has more than 400 funds, and many of them haven't attracted sufficient assets. Those might be merged into other Legg funds or the money returned to investors in a move that also will "decrease the complexity of our fund complex," Nachtwey said.
NEWS
March 4, 2013
I would like to clarify some of the statements made in your article about Hale Properties and the Baltimore Blast leaving the Clarence H. Du Burns Arena ("In dispute with city, Hale moves businesses out," Feb. 28). The management fee to run the Du Burns Arena mentioned in the article has been declining over the years. In fact, the last agreement, which ended on January 21, included no management fee to be paid to Hale Properties to operate Du Burns Arena. Hale Properties was also responsible for paying all the operating expenses of running Du Burns Arena, and the Blast paid a rental fee to the city for use of office space there.
NEWS
RECORD STAFF REPORT | February 27, 2013
St. John Properties Inc. said it has completed construction on 6190 Guardian Gateway, a new three-story, 75,000-square-foot office building within the boundary of Aberdeen Proving Ground. The building is the 10th St. John has completed at its 416-acre business community called The Government and Technology Enterprise, or The GATE, the company said in a news release. The development, an enhanced use lease project on U.S. Army property, is inside APG's Route 715 gate. According to the release, the new building is 35 percent leased.
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