Travelers Insurance Downsizing to Hunt Valley, Md., Office Complex
By Keith Loria January 16, 2024 12:39 pm
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Travelers Insurance is relocating and shrinking its Hunt Valley, Md., office.
The business and personal insurance company has inked a 65,214-square-foot lease in the North Park Business Community, downsizing from 123,375 square feet at 111 Schilling Road, which is less than a mile away.
The new office is at the four-story, 82,300-square-foot 10 North Park Drive, within the 296,446-square-foot, five-building corporate campus owned by North Park Ventures, which acquired the business park in 2019 as part of a larger portfolio.
“It was extremely important for Travelers Insurance to remain in the Hunt Valley area to retain consistency for its employees and customers and, fortunately, a perfect real estate solution existed just around the corner,” Joe Bradley, senior vice president and a principal of MacKenzie Commercial Real Estate Services, which represented ownership, said in a prepared statement. “The company was also attracted to the campus-like setting of the business community, the common area conference amenity in the building, and the fitness center that will be incorporated soon.”
Asking rent in the building is $24.50 per square foot. With the Travelers lease, the property has reached 100 percent occupancy.
The property is just off Interstate 83 near the Shawn Road exit, approximately five minutes from Towson and 20 minutes from Downtown Baltimore.
Travelers will move into its new space this fall.
Doug Brinkley and Charlie Fenwick of Cushman & Wakefield (CWK) represented the tenant in the deal.
Keith Loria can be reached at Kloria@commercialobserver.com.
