Thames Street Wharf is an eight-story, Class A, multi-tenant
office building located directly on the waterfront of Baltimore Harbor. The
property is recognized as the first building delivered to the Harbor Point
mixed-use development, which is currently the most successful mixed-use
development in Baltimore. The construct was built to trophy-quality standards
and is LEED Gold Core & Shell certified for its environmentally-responsible
design and construction. The building features floor-to-ceiling glass windows
that offer stunning views of the Patapsco River and is equipped with a
café/deli, coffee shop, dry cleaning service and concierge service.
The surrounding area has a high walk score, allowing tenants
easy accessibility to nearby parks and amenities such as Harbor Point Central
Plaza and Broadway Square. The area also has additional amenities including
food trucks, restaurants, a farmer’s market and a fitness center. BWI airport
and public transportation options serve commuters and business travelers.
The Baltimore Metro economy continues to tick up, according
to Cushman & Wakefield’s Q4 2018 Office Marketbeat report. Significant
leasing activity during the fourth quarter has helped increase market rates.
Growth in the technology sector, spurred by lower living costs and a high rate
of college graduates, has also buoyed the market.
“Thames Street Wharf offers tenants a premier place to do
business,” said Stephen Close, senior vice president for KBS and asset manager
for the property. “The surrounding area and amenity offerings are key selling
points for many tenants and have helped drive the property’s success.
To maintain the buildings trophy-quality standards, KBS will
continue to make enhancements to the property in 2019. These enhancements
include upgrades to the lobby and common areas.
“We acquired Thames in a joint venture with a sovereign partner,
in lieu of an institutional client, knowing that it had generational attributes
and that with continued enhancements it would remain attractive to top tier
companies,” said Marc Deluca, regional president for KBS. “We are pleased to
continue this relationship with such a premier tenant.”
Joe Messina and Brad Crosley of JLL represented the tenant
and Dan Callihan of Newmark Knight Frank represented KBS in the transaction.