Boston Properties, which has owned the property since having shelled out $137 million for it in 1997, is rumored to be working out a deal with Wells Real Estate Investment Trust II Inc. in which the Norcross, GA-headquartered REIT would acquire 100 E. Pratt St. for approximately $316 per sf. According to Maryland real estate records, the 30-year-old structure and the two-acre parcel it occupies not far from the National Aquarium and Orioles Stadium at Camden Yards have a total current assessed value of about $136.2 million.

It was in 1991 that 100 E. Pratt St., originally a 300,000-sf low-rise structure, was expanded with the addition of an 18-story tower and an eight-story parking facility. Today, the corner building is home to a bevy of tenants including global investment management firm T. Rowe Price, which renewed its lease several months ago while simultaneously extending its occupancy by 25,000 sf to 376,000 sf.

According to Boston Properties' First Quarter 2005 earnings report, the current occupancy level at the property was 91% as of March 31. Wells did not return calls inquiring about the rumored pending deal. A Boston Properties employee tells GlobeSt.com that the company is not commenting until the sale is complete; however, company officials note in the aforementioned earnings report that 100 E. Pratt St., "is currently under agreement to be sold."