While the terms of the leases have not been disclosed, space in Grotech's building leases for about $23.75 per sf, and premier space at Greenspring Station goes for $24.60 to $26.50 per foot. Real estate services company NAI KLNB represented the building owners in the transactions.
"Both companies were intent on surveying the opportunities--financially and logistically--available to them in the Baltimore County and Baltimore City marketplace," NAI's Bill Miller says. "After weighing all the different possibilities, Morgan Stanley decided that their customers were familiar and comfortable with the Greenspring Station location, and the best move represented no move at all."
As for Grotech, Miller adds, "With a location just off I-83, and a number of dining choices positioned within easy driving distance, Grotech also recognized that a renewal is in their best interest."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
