The property earned its moniker from Sun Life Insurance Co., which occupied and owned the building until the 1980s. Now, 20 Charles is 78% leased to a number of law firms including Blades & Rosenfeld and Schlachman, Belsky & Weiner, as well as the Y of Central Maryland. CSG plans to renovate the interior of the 42-year-old building, as well as add a retail component to the first floor. Robert Cashman and Jonathan Beard of CB Richard Ellis Commercial Real Estate represented the seller in its trade.
Up until now, CSG has focused on suburban office, flex and industrial projects. Sun Life is a CBD asset and the company intends to reposition it. "We envision a tremendous upside as the marketplace becomes reintroduced to this project," Alan C. Grabush, principal, director of Marketing and Acquisitions for CSG Partners, says in a prepared statement. Colliers Pinkard will be handling leasing for the building, with Bruce Matthai overseeing the marketing program.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
