BALTIMORE-Emmes Asset Management Co. LLC based in New York City has acquired the 1 E. Pratt St. office building here.
The property sale closed on Wednesday for the 355,800-square-foot downtown office building, according to the Baltimore Business Journal. No purchase price was disclosed. The seller of the building that once was home to a Verizon operations center was Griffith Properties LLC of Boston. Griffith acquired the building in 2006 for $20.6 million and undertook a $15-million renovation of the building.
“It is a state-of-the-art building with great existing tenants located on the best intersection in Baltimore, which makes it a great building to invest in,” said William Bond, a senior vice president with Emmes. “They invested substantially in it and did a great job. We plan to take advantage of the improvements and make improvements.”
Jonathan M. Carpenter of Cassidy Turley represented Griffith Properties in the transaction. See story in the Baltimore Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
