WMS Partners Moving HQ to New Towson Location
By Keith Loria July 7, 2022 5:14 pm
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Wealth management firm WMS Partners has inked a 19,538-square-foot lease at Towson Commons, a 10-story office tower in downtown Towson, Md.
The company will be relocating 80 of its employees from its current headquarters at nearby 1 Olympic Place, also in downtown Towson, to 1 West Pennsylvania Avenue, Its current offices span about 50 percent less space, and WMS has been there for the past 11 years. Plans are to move to the new space this fall.
“Continuous client referrals have quickly accelerated our growth, and our offices were quite literally bursting at the seams, with just one unoccupied space,” Laura Carr, WMS Partners’ chief operating officer, said in an emailed statement. “We love the vibrancy and convenience of downtown Towson and we didn’t want to stray too far, because our clients also enjoy the environment and central location.”
Towson Commons G&O is the owner and landlord of the 330,000-square-foot 1 West Pennsylvania Avenue, having acquired it in 2018.
MacKenzie Commercial Real Estate Services represented the tenant in the transaction. It had started the search for a new space before the pandemic began.
“It was important for WMS Partners to remain in the downtown Towson area, but felt it was also time to modernize and refresh the office layout as a tool to attract and retain talent,” Joe Bradley, senior vice president and principal for MacKenzie, said. “1 West Pennsylvania Avenue emerged as the best option given its best-in-class exterior and interior appearance, large and open floor plan and the on-site and walkable accessibility to amenities.”
The new space also allows WMS Partners to have its entire team on the same floor, which it doesn’t have at its current location.
“An added bonus was the natural sunlight that is available to nearly every section of the offices, which is a proven ingredient that contributes to the health of employees,” Carr said. “This building provides us a springboard into the future and allows for additional growth. Because it is located only two blocks from our former space, both our employees and clients don’t have to change their driving habits and learn the nuances of a new area.”
Keith Loria can be reached at Kloria@commercialobserver.com.
