March 12, 2019
Newport Beach, CA-based KBS signed a 195,783-square-foot lease renewal with a multinational investment bank and financial services company at Thames Street Wharf in Baltimore. Though a press announcement did not name the tenant, previously published reports about the potential sale of the eight-story, Class A, multi-tenant office building indicated Morgan Stanley was the anchor tenant.
The company originally chose Baltimore as its main business center outside of New York in 2003 and has been a tenant since the waterfront Baltimore Harbor building was completed in 2010. The group, which occupies most of the 260,000-square-foot building, consolidated several local offices that support institutional securities processing and other operations. It was the first building delivered to the Harbor Point mixed-use development, was built to trophy-quality standards, and is LEED Gold Core & Shell certified.
KBS’ Marc Deluca says, “We acquired Thames in a joint venture with a sovereign partner, in lieu of an institutional client, knowing that it had generational attributes and that with continued enhancements it would remain attractive to top tier companies.”
JLL’s Joe Messina and Brad Crosley represented the tenant. NKF’s Dan Callihan represented the landlord.
For comments, questions or concerns, please contact Dennis Kaiser