Wells Fargo Consolidates Annapolis Offices With Lease Expansion
By Keith Loria February 14, 2023 12:54 pm
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Wells Fargo (WFC) Advisors is consolidating two offices, expanding its existing lease at 2661 Riva Road, a 52,000-square-foot office building in Annapolis, Md.
MacKenzie Commercial Real Estate Services brokered the deal on behalf of the landlord, who has owned the property since 2000. MacKenzie declined to disclose the name of the landlord, which was not readily available in public records.
Wells Fargo Advisors signed a 9,839-square-foot lease at the six-story building, replacing its former 7,149-square-foot office, in order to accommodate 40 employees from its home at Annapolis Town Center, where it had leased 6,700 square feet for the past 10 years.
The Annapolis Town Center lease was expiring, Trish Farrell, senior vice president and principal for MacKenzie, told Commercial Observer. “Among the factors that drove the decision were the recent completion of renovations to the building and the ability to easily execute the office expansion at 2661 Riva Road,” Farrell said.
The building is part of the Riva 400 Office Park and was recently renovated to include a shared conference room, upgraded common-area finishes, new restrooms, and a fifth-floor balcony overlooking a park.
“It features a park-like setting and plentiful parking, which are attractive to its clients, and is also within close proximity to numerous restaurants and retail amenities, which helps to attract and retain quality labor,” Farrell said.
Wells Fargo will move into the larger space this spring.
MacKenzie’s Bethany Hobbs and Craig Morrell of Morrell Commercial Properties Group also represented the landlord in the lease, while JLL (JLL)’s Jeffrey Miller and Amanda Rosenthal represented Wells Fargo.
Keith Loria can be reached at Kloria@commercialobserver.com.
