BALTIMORE, October 30, 2017 – Cushman & Wakefield announced that it closed the $32.8 million sale of 120 E. Baltimore St. on Friday, October 20, 2017. The 25-story, Class A office tower was 75% leased at the time of sale with high-profile anchor tenants such as SunTrust Bank, State of Maryland Pension System and Baltimore City State Attorney’s Office.
Grander Capital Partners, a Boston-based commercial real estate investment management services company, was the buyer of the building.
“The sale is indicative of the increased confidence that investors are showing in the Downtown Baltimore office market,” said Jonathan Carpenter, Executive Director at Cushman & Wakefield. “This is the fourth major office tower investment sale in 2017, with several more transactions in process.”
Graham Savage, Director and Nicole Keelty, Senior Director also represented the client in the transaction.