Downtown Office Is Under Contract for $208M

BALTIMORE-In what could result in a property sale valued at $208 million, the 656,000-sf office structure at 100 E. Pratt St. has, reportedly, come under contract.

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.