BALTIMORE—Another downtown office building is on the market for sale. American Real Estate Partners is looking to sell its 30-story One South Street office building here.
The building is currently 88% occupied, according to marketing information produced by brokerage firm DTZ. There has been 359,410 square feet of new leases or renewals at the 479,000-square-foot building over the last three years, according to the Baltimore Business Journal.
American Real Estate Partners bought the building in 2005 for $31 million, several years after investment bank Alex Brown, which was purchased by Deutsche Bank in 1999, began reducing its presence in the building. In 2011, Deutsche Bank vacated its 76,000-square-foot offices at the building.
The building's largest tenant is financial services firm Stifel Nicolaus & Co. See story in the Baltimore Business Journal.
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