TTHIS ISHIS IS BBALTIALTI MMOREORE · 2016-07-16 · “debt” portfolio in 2011 17TH FLOOR –...
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BALTI BALTI MORE MORE THIS IS THIS IS
Transcript of TTHIS ISHIS IS BBALTIALTI MMOREORE · 2016-07-16 · “debt” portfolio in 2011 17TH FLOOR –...
BALTIBALTIMOREMORE
THIS ISTHIS IS
BALTIMOREBALTIMOREWE KNOWWE KNOW
DELOITTEDELOITTEWE KNOWWE KNOW
BALTIMORE
DELOITTE
540,000 SF540,000 SFof Deloitte transactions in the region
1.9 Million SF1.9 Million SFof transactions in the region in 2013
SingleSinglepoint of contact since 2008
BasedBasedin the Baltimore-Washington
marketplace
OFFICE TRENDS
10-YEAR TREND FIRST QUARTER 2014
VACANCY
13.1%Vacancy rate up
ABSORPTION
(487,000) SFMove-outs hamper gains
RENTAL RATE
$20.27 PSFSlight increase
OFFICE NET ABSORPTION AND VACANCY
SOURCE CoStar, Transwestern; March 2014.
4%
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NET ABSORPTION IN MILLIONS DIRECT VACANCY RATE
*At fi rst quarter 2014
BALTIMORE MARKET INFORMATIONQ1 2014
MARKET RENTS
CLIENT LOCATION
DRIVE TIMES
TALENT
LOCALSTAKEHOLDER
INPUT
MARKET INTELLIGENCE
COMPETITOR LOCATION
LANDLORD MEETINGS
EMINENCE
LEASE REVIEW
SPACE USAGE
RECOMMENDATIONS
SITE SELECTIONSCORECARD
QUALITATIVE &QUANTITATIVE
ANALYSIS
REFINED LOCATIONOPPORTUNITIES
PRELIMINARY LOCATION
OPPORTUNITIES
BASE CASE SCENARIO(DOWNSIZE & RENEW)LANDLORD EXPECTATIONS
PROJECT INITIATION/DATA COLLECTION
APPROACH & METHODOLOGY OF TRANSACTION
100 S. CHARLES STREET
Cornerstone purchased in “debt” portfolio in 2011
17TH FLOOR – 8,130 SFAVAILABLE
ELLIN & TUCKER(MOVING 10/1/14)
19,180 SF (DIVISIBLE)AVAILABLE
DELOITTE
Ellin&Tucker vacating 10.1.2014
Infrastructure renovations ongoing
Vintage 1980
Solid B+ Building
Excellent location, 2 blocks
from waterfront
Considerable turnoverin fi rst fl oor
retail tenancy
Nondescript curb appeal
Retail component shared with Tower II
Historically very low vacancy
PROPOSED EXPANSIONAREA
1,800 SF 10,883 SFCOMBINED
Exterior Entrance
PROPOSED RESTAURANT(NEW CONSTRUCTION)
1 E. Pratt St.
100 E. Pratt St. 500 E. Pratt St.
CBD OPTIONS
111 S. CALVERT ST.Strengths:• Location/Image• Amenity base • Hotel attached
Challenges:• Floor plate design
401 E. PRATT ST.Strengths:• On Waterfront• Views• Proximity to Amenities
Challenges:• No on-site parking• Pentagon shape• State tenancy
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400 E. Pratt St.
100 S. Charles St.
RELOCATION ALTERNATIVES
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100 International Drive621 E. Pratt St.
SOUTH EAST OPTIONS
650 S EXETER ST.Strengths:• Live/Work/Play• Effi cient Floor plate
Challenges:• Emerging Location• Ingress/egress
1001 FLEET ST.Strengths:• Live/Work/Play• 1 block to waterfront
Challenges:• Emerging Location• Ineffi cient fl oor plate
100 INTERNATIONAL DR.Strengths:• Premiere Offi ce Tower• Views
Challenges:• Cost• Floor plate jogs
1300 THAMES ST.Strengths:• Newest construction• Full height glass
Challenges:• Pioneering location• 1st fl oor availability
111 MARKET PL.Strengths:• Location• Views
Challenges:• Class B+• Floor plate size
100 LIGHT ST.Strengths:• Completely renovated• Location/views
Challenges:• Curb appeal• Limited building amenities
1 SOUTH ST.Strengths:• Iconic Market Image• Value rental
Challenges:• Punch Windows• Neighborhood
500 E. PRATT ST.Strengths:• Location • Penthouse Opportunity
Challenges:• Local Competitor • Retail component
7 ST. PAUL ST.Strengths:• Atop Metro stop• Market Image
Challenges:• Distance from waterfront • Floor-plate design
323-351 W. CAMDEN ST.Strengths:• Signage Opportunity• Signature Identity
Challenges:• Location• Window-line
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CBD OPTIONS
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111 S. CALVERT ST.Stories: 28Total Building: 544,453 SFAvailable:15th Floor: 8,639 SF23rd Floor: 8,293Parking: 0.67/1,000 SFLL Rep: Cushman & Wakefi eld
401 E. PRATT ST.Stories: 30Total Building: 296,139 SFAvailable:4th Floor: 5,000 – 11,300 SF8th Floor: 5,000 – 11,300 SF18th Floor: 5,000 – 11,300 SF23rd Floor: 8,140 SF28th Floor: 11,300 SFParking: No on-siteLL Rep: MD Port Authority
111 MARKET PL.Stories: 12Total Building: 559,996 SFAvailable:10th Floor: 13,000 SFParking: 20 free Surface Spaces are availableLL Rep: JLL
100 LIGHT ST.Stories: 35Total Building: 686,947 SFAvailable:25th Floor: 4,000 – 15,614 SF26th Floor: 4,000 – 15,614 SFParking: 0.50/1,000 SFLL Rep: JLL
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71 SOUTH ST.Stories: 30Total Building: 478,968 SFAvailable:12th Floor: 3,000 – 20,917 SF18th Floor: 11,905 SFParking: 1/1,000 SFLL Rep: JLL
500 E. PRATT ST.Stories: 13Total Building: 279,716 SFAvailable:E PENT: 10,605 SFParking: 3.20/1,000 SFLL Rep: Cushman & Wakefi eld
7 ST. PAUL ST.Stories: 24Total Building: 377,181 SFAvailable:7th Floor: 2,000 – 20,237 SF8th Floor: 2,000 – 13,127 SF12th Floor: 9,859 SF15th Floor: 19,656 SFParking: 209 Covered Spaces are availableLL Rep: Cassidy Turley
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SOUTH EAST OPTIONS
650 S EXETER ST.Stories: 12Total Building: 243,540 SFAvailable:10th Floor: 10,290 SFParking: 3/1,000 SFLL Rep: Cassidy Turley
1001 FLEET ST.Stories: 9Total Building: 213,000 SFAvailable:7th Floor: 9,500 – 28,735 SFParking: 1/1,000 SFLL Rep: Cassidy Turley
100 INTERNATIONAL DR.Stories: 24Total Building: 623,000 SFAvailable: 15th Floor: 26,842 SF16th Floor: 27,594 SF17th Floor: 11,500 – 26,129 SF18th Floor: 11,500 – 24,665 SF21st Floor: 8,090 SF24th Floor: 11,587 SFParking: 1/1,000 SFLL Rep: Cassidy Turley
1300 THAMES ST.Stories: 7Total Building: 260,000 SFAvailable:1st Floor: 34,111 SFParking: 3/1,000 SFLL Rep: CBRE
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“WILD CARD” OPTION - THE WAREHOUSE
• Owned by Maryland Stadium Authority
• 10,000 SF available
• Limited glass line but loaded with personality
• 1st building off I-95 exit
• “Signage opportunity”
• Average of 30,000 spectators per game
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TRANSWESTERN & DELOITTE
A TRUE SERVICE PARTNERSHIP
Presented To:
JOHN CONNOLLY JOVI MCANDREW TOM GENTNERSenior Vice President Senior Vice President301.896.9122 [email protected] [email protected]
Presented By:
