Wells Fargo Relocates to Office Tower in Baltimore’s Inner Harbor
Brookfield Properties has signed three new tenants at 111 South Calvert Street, a 265,000-square-feet office building in Baltimore’s Inner Harbor.
Wells Fargo Bank inked a lease for 17,336 square feet at the 28-story building, relocating from its current space at 7 St Paul Street, where it’s been for more than 40 years. The bank will have various lines of business within the building, including a community bank and commercial middle market.
Wells Fargo relocated because it was looking for something new and appreciated the recent renovations at the Brookfield building, the company said.
“We were looking for space in Baltimore’s Central Business District and our offices will look out over the inner harbor,” Derek Lynch, Wells Fargo’s leader of commercial banking in Baltimore, told Commercial Observer. “The square footage fit our needs, and the fact we will have signage at the top is a bonus.”
Additionally, engineering and consulting firm SIA Solutions took a 4,597-square-foot lease and law firm Evert Weathersby Houff signed a 1,748-square-foot deal.
“Welcoming these three companies to 111 South Calvert is an exciting moment for Brookfield, but importantly, a signal of increasing activity in downtown Baltimore,” Robert Swennes, executive vice president and Brookfield’s head of mid-Atlantic region, told Commercial Observer. “While city centers have faced unprecedented challenges over the course of the pandemic, we’re seeing momentum across the board as people return to work.”
Brookfield Properties just completed a $12 million renovation of the lobby and has additional plans to reposition the asset with additional significant upgrades in the near future.
Renovations completed last year include the addition of a 17th-floor amenity lounge, which includes a 1,500-square-foot sky terrace and a new 4,500-square-foot fitness center. Grreen walls and landscaping are integrated throughout the building to promote health and increase employees’ connection to nature.
The building is currently 80 percent leased, per Brookfield. Other tenants include Cigna Health, Ballard Spahr and Lupin Pharmaceuticals.
Brookfield Properties was represented by Bronwyn LeGette and Matt Seward of Cushman & Wakefield in all three leases. SIA was represented by Adam Ceribelli of CBRE. Evert Weathersby Houff was represented by Linn Worthington of C&W. And C&W’s Jamie Smith and Courtenay Jenkins represented Wells Fargo.
Requests for comment from the brokers were not immediately returned.
Keith Loria can be reached at Kloria@commercialobserver.com.