Indianapolis IN, January 22nd, 2024
KennMar is pleased to announce that it has acquired an office tower located at 7 St. Paul Street in downtown Baltimore, Maryland. Built in 1985, the property stands 24 stories tall and totals 508,714 square feet.
“This is our first acquisition in Baltimore, and we are excited to own such a well-located and well- maintained property within the downtown area,” stated Brent Benge, President & C.E.O. of KennMar. “We believe there are significant opportunities in the office sector and continue to look for high quality assets like this one that will allow us to preserve and grow value for our investors while also making a positive impact within the community.”
With expansive views of the downtown skyline, the property is within walking distance to the city’s Inner Harbor as well as many restaurants, hotels, and entertainment venues. Conveniently located near the Charles Street metro station, the property provides tenants with a variety of amenities such as a conferencing center, fitness center, covered parking and Wi-Fi-enabled tenant lounge.
David Downey, Managing Director, and Linn Worthington, Director with Cushman Wakefield will be marketing the property on behalf of KennMar.
With over 40 years of collective experience marketing commercial properties in the Baltimore area, Downey and Worthington note: “Companies are eager to get their employees back to the office consistently, and in order to accomplish that, they need to provide a best-in-class experience. With numerous amenities, convenient parking, and great views, 7 St. Paul ticks all the boxes for the vibrant workplace experience occupiers are seeking, which is a major reason we’ve signed over 100,000 square feet of new leases over the past two years. The building is also energy star-rated, which aligns with tenants’ sustainability goals and has close proximity to public transportation, which is always important.”
The acquisition of 7 St. Paul Street is a natural fit for KennMar’s “F.O.C.U.S. on G.O.O.D.®” investment philosophy which means that with every asset acquired or developed, the company strives to collaborate with local leaders to create spaces that bring people together and align with the community’s plans and long-term vision.
