{"id":1004720443,"date":"2024-07-10T02:42:14","date_gmt":"2024-07-10T10:42:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004720443"},"modified":"2024-07-10T07:20:37","modified_gmt":"2024-07-10T15:20:37","slug":"armada-hoffler-inks-35-ksf-office-lease-in-baltimore","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/armada-hoffler-inks-35-ksf-office-lease-in-baltimore\/","title":{"rendered":"Armada Hoffler Inks 35 KSF Office Lease in Baltimore"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004720445\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/armada-hoffler-inks-35-ksf-office-lease-in-baltimore\/1144579-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.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;&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=\"Wills_Wharf_Armada_Hoffler\" data-image-description=\"&lt;p&gt;Property at 1201 Wills St., Baltimore&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The building\u2019s top four floors are occupied by Hilton\u2019s Canopy. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg\" alt=\"Property at 1201 Wills St., Baltimore\" class=\"wp-image-1004720445\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/1144579-1.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Hilton\u2019s Canopy occupies the building\u2019s top four floors. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Stifel Financial Corp. has signed a 35,000-square-foot office lease at Armada Hoffler\u2019s Wills Wharf, a 330,000-square-foot building in Baltimore. JLL and Cushman &amp; Wakefield represented the landlord and tenant, respectively. <\/p>\n\n\n\n<p>The trophy property offers 236,000 square feet of Class A office space, as well as 156 hotel keys. Built in 2020, Wills Wharf is <a href=\"https:\/\/www.commercialsearch.com\/news\/leed-certification-stats-for-the-office-sector-in-2023\/\">LEED Silver<\/a> Core and Shell certified. The 12-story, $120 million building features 34,653-square-foot floorplates, a daycare center, as well as waterfront views, among others.<\/p>\n\n\n\n<p>Through its relocation from downtown St. Louis, the independent investment bank and financial services company will join ranks with other tenants such as Morgan Stanley, Franklin Templeton and Transamerica.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/sizing-up-the-prime-office-building-landscape\/\">Sizing Up the Prime Office Building Landscape<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Located at 1201 Wills St., the building rises on the banks of Patapsco River, inside an 89-score walk area. Several upscale dining options, parks, as well as a ferry terminal, are within walking distance, while downtown Baltimore is more than 1 mile away.<\/p>\n\n\n\n<p>JLL Vice President Peter Jackson represented Armada Hoffler in the leasing proceedings. Cushman &amp; Wakefield Senior Managing Director David Downey Jr. and Executive Director Courtenay Jenkins spearheaded the negotiations on behalf of Stifel Financial Corp.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-closer-look-at-harbor-point\">A closer look at Harbor Point<\/h2>\n\n\n\n<p>Wills Wharf is part of Harbor Point, a 27-acre mixed-use project including 3 million square feet of office\u2014which is 98 percent leased\u2014retail, residential and hospitality space. Armada Hoffler developed the project alongside Beatty Development Group.<\/p>\n\n\n\n<p>Harbor Point&#8217;s first two phases debuted between 2010 and 2020, with Wills Wharf being the latest addition to the project. There are currently three other developments under construction at the Harbor, with another in the planning and permitting stages.<\/p>\n\n\n\n<p>In 2021, Armada Hoffler <a href=\"https:\/\/www.commercialsearch.com\/news\/armada-hoffler-pays-246m-for-majority-stake-in-baltimore-tower\/\">paid $246 million to purchase a majority stake<\/a> in the Exelon building, a 440,000-square-foot mixed-use property inside Harbor Point.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-baltimore-s-office-market-marches-on\">Baltimore&#8217;s office market marches on<\/h2>\n\n\n\n<p>According to a recent Cushman &amp; Wakefield report, Baltimore\u2019s <a href=\"https:\/\/cw-gbl-gws-prod.azureedge.net\/-\/media\/cw\/marketbeat-pdfs\/2024\/q1\/us-reports\/office\/baltimore-americas-office-marketbeat-q1-2024_final.pdf?rev=a5197e5e5e9e42a8ba311257edc747d5\" target=\"_blank\" rel=\"noreferrer noopener\">office vacancy rate stood at 17.4 percent<\/a> at the end of 2024\u2019s first quarter. The city\u2019s office absorption was negative, at 136,000 square feet year-to-date through March, the same report reveals.<\/p>\n\n\n\n<p>The overall office leasing activity in Baltimore throughout 2024\u2019s first quarter clocked in at 1.1 million square feet, distributed nearly evenly between new leases and renewals, according to the report. This year\u2019s figures edge 2023\u2019s (812,640 square feet) and 2022\u2019s (960,865 square feet) during the same period.<\/p>\n\n\n\n<p>In February, Window Nation <a href=\"https:\/\/www.commercialsearch.com\/news\/st-john-properties-jv-inks-51-ksf-baltimore-lease\/\">inked a 50,698-square-foot lease<\/a> at St. John Properties and Greenbaum Enterprises\u2019 104,412-square-foot office building inside the 605-acre Maple Lawn mixed-use community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building is part of a mixed-use waterfront development.<\/p>\n","protected":false},"author":3471,"featured_media":1004720445,"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":[33079,32799,32796],"class_list":["post-1004720443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-brokerage","category-midatlantic","category-latest","category-office","tag-armada-hoffler-properties","tag-cushman-wakefield","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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