Baltimore’s Offices at Village Square in Cross Keys Hits 95% Occupancy
By Keith Loria February 10, 2023 3:58 pmreprints
Caves Valley Partners has recently signed more than 12,000 square feet of leases at The Offices at Village Square in Cross Keys in Baltimore, according to the company.
The property, at 5100 Falls Road, is now 95 percent leased, its owner says. Built in 1965 by the Rouse Company, Cross Keys was acquired by Caves Valley Partners at the initial height of the pandemic in July 2020 for $27 million. At the time, vacancy hovered below 40 percent.
Since acquiring the property, Caves Valley Partners has modernized Village Squre’s appearance and functionality, and it is actively undergoing a comprehensive redevelopment to create more than 300 apartments as well as new retail and office buildings.
The newest tenants include equity capital firm Victor Capital Partners, executive search firm Stanton Chase, investment banker Shot Tower Capital and grant foundation The France Merrick Foundation. Each of the leases is approximately 3,000 square feet. Rent terms were not disclosed.
“We are gratified that our vision for Cross Keys continues to be understood and shared by such a great group of office tenants,” Arsh Mirmiran, Caves Valley’s principal, said in a statement. “We are thrilled that we continue to attract Baltimore’s leading professional services, venture capital, and tech firms to the property.”
While these are new locations for most tenants, Stanton Chase is relocating its mid-Atlantic headquarters from 400 East Pratt Street in Baltimore.
“We are excited to be part of the new energy and offices that are underway in Village Square,” Mickey Matthews, Stanton Chase’s managing director, said. “The modern renovation, convenient access, ample parking, and complementary co-tenancy make it the perfect spot for us.”
MacKenzie Commercial Real Estate’s Matt Mueller and Dylan Bozel represented the landlord on the leases. It was not clear who represented the tenants.
Keith Loria can be reached at Kloria@commercialobserver.com.