{"id":1004698163,"date":"2024-01-18T13:01:14","date_gmt":"2024-01-18T21:01:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004698163"},"modified":"2024-01-18T16:03:45","modified_gmt":"2024-01-19T00:03:45","slug":"travelers-insurance-to-relocate-baltimore-area-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/travelers-insurance-to-relocate-baltimore-area-office\/","title":{"rendered":"Travelers Insurance to Relocate Baltimore-Area Office"},"content":{"rendered":"\n<p><strong>Travelers Insurance <\/strong>has signed a lease with <strong>MacKenzie Cos<\/strong>. to occupy 65,214 square feet at 10 North Park in Hunt Valley, Md., near Baltimore. This fall, the firm will relocate from 111 Schilling Road, where it occupies 123,375 square feet, <em>Commercial Observer <\/em>reported. <strong>Cushman &amp; Wakefield <\/strong>represented the tenant in the transaction, while <strong>MacKenzie Commercial Real Estate Services<\/strong> represented the landlord. <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a23c0ebe0fd7&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004698164\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/travelers-insurance-to-relocate-baltimore-area-office\/10-north-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/10-North-Park-e1705562512234.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"10 North Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;10 North Park span 82,300 square feet across four stories. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/10-North-Park-e1705562512234.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/10-North-Park.jpg?w=300\" alt=\"10 North Park\" class=\"wp-image-1004698164\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">10 North Park span 82,300 square feet across four stories. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Completed in 1986, 10 North Park spans 82,300 square feet across four stories. Travelers Insurance&#8217;s lease brings the asset to full occupancy. <\/p>\n\n\n\n<p>The property is part of a five-building North Park Business Community totaling 296,446 square feet. The rental rate at the campus is $24.5 per square foot. Other tenants include Asset Strategy Consultants and Alight Solutions, CommercialEdge information shows.<\/p>\n\n\n\n<p>MacKenzie acquired the park in 2019 from <strong>Greenfield Partners <\/strong>in a $44 million portfolio transaction, according to CommercialEdge data. The sale was subject to a $28.6 million, 10-year loan from <strong>PNC Bank<\/strong>, the same source shows.<\/p>\n\n\n\n<p>Located at 10 N. Park Drive, the property is near Interstate 63, roughly 20 miles north of Baltimore. It is also adjacent to the Hunt Valley Towne Center shopping mall.<\/p>\n\n\n\n<p>Joe Bradley, senior vice president &amp; principal for MacKenzie Commercial Real Estate Services represented the landlord. Cushman &amp; Wakefield Managing Directors Douglas Brinkley and Charles Fenwick represented the tenant in the transaction. The brokerage firm was recently tapped by a <strong>MAG Partners <\/strong>joint venture to <a href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-tapped-to-lease-baltimore-peninsula-office-space\/\">lease 1.1 million square feet of office space <\/a>within a 235-acre redevelopment in the Baltimore area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The lease brings the suburban 10 North Park building to full occupancy.<\/p>\n","protected":false},"author":3120,"featured_media":1004698164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21784,11,21742,21747],"tags":[32799,36212,35514,36928,36298],"class_list":["post-1004698163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-brokerage","category-midatlantic","category-latest","category-office","tag-cushman-wakefield","tag-greenfield-partners","tag-mackenzie-commercial-real-estate-services","tag-pnc-bank","tag-travelers-companies-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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