tthis ishis is bbaltialti mmoreore · 2016-07-16 · “debt” portfolio in 2011 17th floor –...
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BALTIBALTIMOREMORE
THIS ISTHIS IS
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BALTIMOREBALTIMOREWE KNOWWE KNOW
DELOITTEDELOITTEWE KNOWWE KNOW
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BALTIMORE
DELOITTE
540,000 SF540,000 SFof Deloitte transactions in the region
1.9 Million SF1.9 Million SFof transactions in the region in 2013
SingleSinglepoint of contact since 2008
BasedBasedin the Baltimore-Washington
marketplace
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OFFICE TRENDS
10-YEAR TREND FIRST QUARTER 2014
VACANCY
13.1%Vacancy rate up
ABSORPTION
(487,000) SFMove-outs hamper gains
RENTAL RATE
$20.27 PSFSlight increase
OFFICE NET ABSORPTION AND VACANCY
SOURCE CoStar, Transwestern; March 2014.
4%
6%
8%
10%
12%
14%
16%
-0.8
-0.6
-0.4
-0.2
0.0
0.2
0.4
0.6
05 06 07 08 09 10 11 12 13 14*
NET ABSORPTION IN MILLIONS DIRECT VACANCY RATE
*At fi rst quarter 2014
BALTIMORE MARKET INFORMATIONQ1 2014
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MARKET RENTS
CLIENT LOCATION
DRIVE TIMES
TALENT
LOCALSTAKEHOLDER
INPUT
MARKET INTELLIGENCE
COMPETITOR LOCATION
LANDLORD MEETINGS
EMINENCE
LEASE REVIEW
SPACE USAGE
RECOMMENDATIONS
SITE SELECTIONSCORECARD
QUALITATIVE &QUANTITATIVE
ANALYSIS
REFINED LOCATIONOPPORTUNITIES
PRELIMINARY LOCATION
OPPORTUNITIES
BASE CASE SCENARIO(DOWNSIZE & RENEW)LANDLORD EXPECTATIONS
PROJECT INITIATION/DATA COLLECTION
APPROACH & METHODOLOGY OF TRANSACTION
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100 S. CHARLES STREET
Cornerstone purchased in “debt” portfolio in 2011
17TH FLOOR – 8,130 SFAVAILABLE
ELLIN & TUCKER(MOVING 10/1/14)
19,180 SF (DIVISIBLE)AVAILABLE
DELOITTE
Ellin&Tucker vacating 10.1.2014
Infrastructure renovations ongoing
Vintage 1980
Solid B+ Building
Excellent location, 2 blocks
from waterfront
Considerable turnoverin fi rst fl oor
retail tenancy
Nondescript curb appeal
Retail component shared with Tower II
Historically very low vacancy
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PROPOSED EXPANSIONAREA
1,800 SF 10,883 SFCOMBINED
Exterior Entrance
PROPOSED RESTAURANT(NEW CONSTRUCTION)
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1 E. Pratt St.
100 E. Pratt St. 500 E. Pratt St.
CBD OPTIONS
111 S. CALVERT ST.Strengths:• Location/Image• Amenity base • Hotel attached
Challenges:• Floor plate design
401 E. PRATT ST.Strengths:• On Waterfront• Views• Proximity to Amenities
Challenges:• No on-site parking• Pentagon shape• State tenancy
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400 E. Pratt St.
100 S. Charles St.
RELOCATION ALTERNATIVES
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100 International Drive621 E. Pratt St.
SOUTH EAST OPTIONS
650 S EXETER ST.Strengths:• Live/Work/Play• Effi cient Floor plate
Challenges:• Emerging Location• Ingress/egress
1001 FLEET ST.Strengths:• Live/Work/Play• 1 block to waterfront
Challenges:• Emerging Location• Ineffi cient fl oor plate
100 INTERNATIONAL DR.Strengths:• Premiere Offi ce Tower• Views
Challenges:• Cost• Floor plate jogs
1300 THAMES ST.Strengths:• Newest construction• Full height glass
Challenges:• Pioneering location• 1st fl oor availability
111 MARKET PL.Strengths:• Location• Views
Challenges:• Class B+• Floor plate size
100 LIGHT ST.Strengths:• Completely renovated• Location/views
Challenges:• Curb appeal• Limited building amenities
1 SOUTH ST.Strengths:• Iconic Market Image• Value rental
Challenges:• Punch Windows• Neighborhood
500 E. PRATT ST.Strengths:• Location • Penthouse Opportunity
Challenges:• Local Competitor • Retail component
7 ST. PAUL ST.Strengths:• Atop Metro stop• Market Image
Challenges:• Distance from waterfront • Floor-plate design
323-351 W. CAMDEN ST.Strengths:• Signage Opportunity• Signature Identity
Challenges:• Location• Window-line
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CBD OPTIONS
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111 S. CALVERT ST.Stories: 28Total Building: 544,453 SFAvailable:15th Floor: 8,639 SF23rd Floor: 8,293Parking: 0.67/1,000 SFLL Rep: Cushman & Wakefi eld
401 E. PRATT ST.Stories: 30Total Building: 296,139 SFAvailable:4th Floor: 5,000 – 11,300 SF8th Floor: 5,000 – 11,300 SF18th Floor: 5,000 – 11,300 SF23rd Floor: 8,140 SF28th Floor: 11,300 SFParking: No on-siteLL Rep: MD Port Authority
111 MARKET PL.Stories: 12Total Building: 559,996 SFAvailable:10th Floor: 13,000 SFParking: 20 free Surface Spaces are availableLL Rep: JLL
100 LIGHT ST.Stories: 35Total Building: 686,947 SFAvailable:25th Floor: 4,000 – 15,614 SF26th Floor: 4,000 – 15,614 SFParking: 0.50/1,000 SFLL Rep: JLL
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71 SOUTH ST.Stories: 30Total Building: 478,968 SFAvailable:12th Floor: 3,000 – 20,917 SF18th Floor: 11,905 SFParking: 1/1,000 SFLL Rep: JLL
500 E. PRATT ST.Stories: 13Total Building: 279,716 SFAvailable:E PENT: 10,605 SFParking: 3.20/1,000 SFLL Rep: Cushman & Wakefi eld
7 ST. PAUL ST.Stories: 24Total Building: 377,181 SFAvailable:7th Floor: 2,000 – 20,237 SF8th Floor: 2,000 – 13,127 SF12th Floor: 9,859 SF15th Floor: 19,656 SFParking: 209 Covered Spaces are availableLL Rep: Cassidy Turley
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SOUTH EAST OPTIONS
650 S EXETER ST.Stories: 12Total Building: 243,540 SFAvailable:10th Floor: 10,290 SFParking: 3/1,000 SFLL Rep: Cassidy Turley
1001 FLEET ST.Stories: 9Total Building: 213,000 SFAvailable:7th Floor: 9,500 – 28,735 SFParking: 1/1,000 SFLL Rep: Cassidy Turley
100 INTERNATIONAL DR.Stories: 24Total Building: 623,000 SFAvailable: 15th Floor: 26,842 SF16th Floor: 27,594 SF17th Floor: 11,500 – 26,129 SF18th Floor: 11,500 – 24,665 SF21st Floor: 8,090 SF24th Floor: 11,587 SFParking: 1/1,000 SFLL Rep: Cassidy Turley
1300 THAMES ST.Stories: 7Total Building: 260,000 SFAvailable:1st Floor: 34,111 SFParking: 3/1,000 SFLL Rep: CBRE
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“WILD CARD” OPTION - THE WAREHOUSE
• Owned by Maryland Stadium Authority
• 10,000 SF available
• Limited glass line but loaded with personality
• 1st building off I-95 exit
• “Signage opportunity”
• Average of 30,000 spectators per game
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TRANSWESTERN & DELOITTE
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A TRUE SERVICE PARTNERSHIP
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Presented To:
JOHN CONNOLLY JOVI MCANDREW TOM GENTNERSenior Vice President Senior Vice President301.896.9122 [email protected] [email protected]
Presented By: