June 17, 2019
KBS has entered an agreement to sell Thames Street Wharf, a 263,426-square-foot office property in Baltimore’s Harbor Point development, to Armada Hoffler Properties for $101 million. The first building to be completed at Harbor Point, Thomas Street Wharf is 100% occupied, anchored by Morgan Stanley and Johns Hopkins Medicine.
“We’re pleased to announce our agreement to sell this quality asset,” said Stephen Close, KBS SVP and asset manager of the property. “We have been meticulous about maintaining this first-in-class building to meet the needs of all tenants including Armada Hoffler, who will continue to enjoy the space for years to come.”
At Armada Hoffler Properties, CEO Louis Haddad said, “Combined with our investments in the adjacent Wills Wharf and 1405 Point Apartments, Thames Street Wharf is a natural strategic acquisition and allows us to capitalize on the opportunity that comes with operating multiple asset classes in a synergistic environment.”
For comments, questions or concerns, please contact Paul Bubny