Stifel Financial Shrinks Baltimore Office Footprint With New 35K SF Lease
By Nick Trombola July 11, 2024 6:12 pm
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Wealth management and investment banking firm Stifel Financial has a new, smaller lease in Baltimore.
The firm signed for 35,000 square feet of office space at the Wills Wharf building at 1201 Wills Street in Baltimore’s Harbor Point neighborhood, cutting its current footprint in Charm City by a significant chunk in the process. The asking rent price was not disclosed. Stifel is relocating from its 84,000-square-foot, longtime home at One South Street in downtown, though it plans to keep one floor at the building, according to Bisnow, citing a Stifel spokesperson.
As for the new lease, Peter Jackson of JLL (JLL) represented landlord Armada Hoffler in the deal, while David Downey Jr. and Courtenay Jenkins of Cushman & Wakefield (CWK) represented Stifel.
Wills Wharf is far from the only Harbor Point building owned by Armada Hoffler.
The real estate investment trust owns the 21-story Constellation and eight-story Thames Street Wharf office buildings there, as well as the mixed-use apartment complexes at 1405 Point and 1305 Dock Streets. With Stifel’s new lease, Armada’s 1 million-square-foot office portfolio in the district is currently 98 percent occupied, according to the firm.
Meanwhile, Armada is in the process of constructing several more mixed-use properties with Harbor Point’s master developer, Beatty Development Group: the Allied | Harbor Point apartment project and the new global headquarters of investment management firm T. Rowe Price, which will be spread across two 550,000-square-foot towers.
Representatives for Armada and Stifel did not immediately respond to requests for comment.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
