Ballard has spent its 10 years in Baltimore at the 235,000-sf, 19-story office complex in the city's Inner Harbor Area. Rouse Co. built 300 East Lombard in 1984, and the building changed hands a few times, finally ending up under the ownership of Denver's Amstar Group, which paid $28.7 million for the property in 1999. Colliers Pinkard handles the building's leasing activity.
Amstar "just spent $1 million on a new HVAC system," states Colliers' Matthew L. Seward, "and they have completely renovated the lobbies and elevators. We also just got approval for a new monument sign, which will bring a nice new fresh feel to the outside."
Currently the office space is about 80% leased, and the ground-level retail space is fully occupied. Colliers just struck a deal with TD Waterhouse to take on the 1,800-sf retail space that was recently vacated by an area bank.
By year's end, however, a large office tenant is planning to downsize its space, which will increase vacancy by about 10%. "We're looking to get the word out about the building because the owner continues to make tenants happy," Seward says.
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