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140,000-SF Waterfront Complex Under Way in Baltimore

BALTIMORE, MD-The Cordish Co. begins work on its new office and retail complex on Pier 4 of Baltimore's harbor-front. With the announcement of a second tenant's commitment to lease space, 75% of the 140,000-sf building is spoken for already.

By Barbra Murray | Updated on November 06, 2001

BALTIMORE, MD-Commercial property developers The Cordish Co. breaks ground on its harbor-front office building and retail complex, and secures a second tenant. Accounting firm Ernst & Young–which was first to claim space in the 140,000-sf building–and venture capitalist company Nexgen will lease space in the six-story complex. Builders expect to complete the structure in December 2002.

The National Aquarium and the well-traveled Power Plant entertainment complex will flank the $30-million edifice. It will be a warehouse-style building with high ceilings and water views. With two tenants already signed on, Cordish’s office tower is 75% pre-leased. Baltimore will collect from Cordish an annual $120,000 rent on the land, as per the company’s 72-year lease with the city. To further accommodate tenants Cordish plans to erect a 640-space parking garage at Pier 6.

Ernst & Young will leave its current digs in the Blaustein Building, which the company has called home since 1960. Nexgen plans to put out a press release to announce its impending move to the new office space.

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