MAG Partners, together with MacFarlane Partners, has tapped Cushman & Wakefield as exclusive leasing agent for the office space at Baltimore Peninsula, a 235-acre redevelopment project in Baltimore. The mixed-use project’s investor team also includes Sagamore Ventures and Goldman Sachs’ Urban Investment Group.
The news comes as the development’s first phase, consisting of 1.1 million square feet of office, retail and residential space, is nearing completion. Upon full buildout, the waterfront project will create up to 14 million square feet of space, along with 40 acres of green space.
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Cushman & Wakefield’s Courtenay Jenkins, Rich Thomas, Matt Melnick and Linn Worthington will be marketing the offices at Baltimore Peninsula. The company will be in charge of the 440,000 square feet of office space, located within two FITWEL-certified assets, namely 2455 House St. and Rye Street Market.
The team replaced the prior brokers from JLL, in an effort to boost office leasing at the project, according to the Baltimore Business Journal. The same source reveals that the new brokers will also target out-of-state tenants, willing to expand to Baltimore.
The first two office leasing agreements secured by JLL are CFG Bank’s 97,000 -square-foot long-term deal and interior design firm H. Chambers Co.’s 9,000-square-foot lease. Signed in January, CFG Bank will be relocating its headquarters to 2455 House St., occupying three full floors, while the second tenant signed its lease last September, at Rye Street Market.
Offices at Baltimore Peninsula
2455 House St. is a seven-story building that includes 212,000 square feet of office space and 9,500 square feet of retail space. The asset features 33,000-square-foot floor plates, a fitness center with locker rooms, bike storage facilities, a rooftop terrace with event and meeting rooms, a conference center, a common-area bar and multiple outdoor spaces.
Rye Street Market is a campus composed of three six-story buildings, situated within the central square of Baltimore Peninsula, that includes 228,000 square feet of office space, 45,000 square feet of retail space, with built-out suites, outdoor terraces, conference rooms, rooftop terraces, a fitness center and bike storage facilities.
