One North Charles 1 N Charles St 290,423 SF 69% Leased 4-Star Office Building Baltimore, MD 21201 $10,000,000 ($34.43/SF)

Downtown Baltimore is the epicenter of the greater Baltimore metropolitan area’s office market. Home to some of the area’s most high-profile companies, stretches of real estate, and unbeatable waterfront views, many office tenants have called the Central Business District home for decades.

The CBD offers businesses several geographic advantages. Its accessibility to major thoroughfares including I-83, I-95, I-295, and I-395 provides many points of ingress and egress to other parts of the metro, including convenient access points for commutes to the nearby Baltimore-Washington International Thurgood Marshall Airport, or adjoining metropolitan areas of Washington D.C. or Philadelphia.

Baltimore’s core boasts some of the highest-quality office space in the metro. Anchored by the Pratt Street corridor, its concentration of Class A office space more than doubles that of the next closest concentration in Baltimore. In turn, some of Downtown's largest tenants include notable law firms such as Venable, Miles & Stockbridge, and Baker Donelson. It is also home to long-time mainstays of Baltimore Gas and Electric and M&T Bank.

A notable redevelopment is on the horizon, as locally based MCB Real Estate is planning to renovate Harborplace, a 165,000-square-foot retail center along the Inner Harbor. The renovation is slated to restore the glory that once was Harborplace, and in turn, provide additional retail destinations for the CBD’s ample workforce.

Within the capital markets, office sales activity in Baltimore's core has been driven by conversions in recent years. The CBD has more than 1,000 multifamily units underway, and the overwhelming majority of those units are slated to come to market by way of conversions from office and hospitality properties to multifamily assets.