Maryland Crime Victims’ Resource Center Relocating to Baltimore
The building is up for sale as a potential multifamily conversion opportunity
By Keith Loria March 8, 2024 2:47 pm
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The Maryland Crime Victims’ Resource Center (MCVRC) has inked a 2,700-square-foot lease at One North Charles, a 25-story office tower in Baltimore.
Built in 1963, the 290,423-square-foot building is currently for sale. JLL (JLL) is marketing the building on behalf of ownership, listed as Northern Capital of New England LLC in public records, which acquired the tower in 2017 for $8.72 million.
At the time of the MCVRC lease, the building was 49 percent occupied. In its marketing materials, JLL noted that the building offers upside either through a conversion or lease-up strategy, and noted the owners have available renderings and the cost estimate of 14 multifamily units for any potential buyers.
Additionally, ownership has deals in place to relocate tenants on floors 16 through 25 for possible multifamily conversion.
Formed in 1982, MCVRC is an advocacy organization for victims’ rights throughout Maryland and the U.S. The organization is relocating from 1001 Prince Georges Boulevard in Upper Marlboro, Md.
Asking rents at the office building average $17.50 per square foot, according to a brochure by MacKenzie Commercial Real Estate Services, which leased the space on behalf of ownership.
More than $3 million has been spent on renovations in the building since 2014, including upgrading the elevators, the HVAC system and water pumps. The lobby was completely revamped as well.
Keith Loria can be reached at Kloria@commercialobserver.com.
