BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged the sale of 36 South Charles Street in Baltimore. The 25-story, 294,274 square foot office tower is located in Baltimore’s Central Business District. Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, AREA 16B Associates Limited Partnership. Los Angeles-based Laurus Corporation purchased the property.
“The sale of 36 South Charles represents the second institutional investment sale closing in the CBD Baltimore office market in 2013,” commented Jonathan M. Carpenter, Managing Director and Principal at Cassidy Turley. “We anticipate additional momentum for office investment sales in Baltimore continuing into 2014 as the leasing market recovers and more institutional investors consider CBD Baltimore as a viable marketplace to invest due to its strong population growth, educated workforce, and its transformation into a true live, work, play environment.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley in Baltimore
With a 90+ year heritage serving clients in the Greater Baltimore Metropolitan area, Cassidy Turley’s client-focused, team approach and reputation for thorough market knowledge is recognized throughout the real estate industry. We are local leaders in Capital Markets – in 2012 and 2013 we completed 24 investment sales transactions totaling $503 million in the Mid-Atlantic Region. Cassidy Turley’s Baltimore operations also are home to the company’s Chairman of the Board as well as its Life Sciences Practice Group and Global Tenant Advisory team. As community leaders, our employees sit on numerous boards and are active volunteers with The Salvation Army, United Way, and Middle Branch Park.