Terms of the insurance and financial services company's lease agreement have not been disclosed; however, Doug Schmidt of CB Richard Ellis, which represents Brewers Hill developers Struever Bros. Eccles & Rouse and Obrecht Commercial Real Estate, tells GlobeSt.com that space is being marketed in the low $20 range. Grubb & Ellis stood in for MetLife in the transaction.

"This is a major win for the project and Baltimore City, as MetLife represents a nationally-recognized and high-visibility company that will inject a new wave of employees into the Downtown area," SBER senior development director Josh Neiman notes. "Their decision to re-locate two suburban locations into one downtown office represents the continuation of this trend, as companies are recognizing the multiple benefits of offering attractive workplaces for its employees. The spin-off effect of these new workers will positively affect area retailers and restaurants."

MetLife, which was taken with the site's convenient location and free onsite parking, expects that many of its employees will ultimately choose to set up residence within the area, perhaps even at the 27-acre mixed-use development itself. The company will make the move to its new home sometime during the fourth quarter.