Newsletters

Sun Life Building Trades for $9M

BALTIMORE-This acquisition is CSG Partners' first in the urban commercial real estate market, as it has previously focused on suburban office, flex and industrial projects in the Mid-Atlantic.

By Erika Morphy | Updated on December 08, 2008

BALTIMORE-CSG Partners is acquiring its first urban office property: 20 Charles St., or as it is locally known, the Sun Life Building. CSG is the real estate development and investment arm of a joint venture between the Creaney & Smith Group, and the Global Merchant Bank Group of Prudential Real Estate Investors. The JV is purchasing the 12-story, 170,000-square foot office tower for $9.2 million from SLM Properties, an investment entity of Asset Capital Corp.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.