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BALTIMORE COUNTY-After discouraging searches for other office space options, two companies have decided to stay put and renew the leases on their Baltimore County locales. Venture capitalist concern Grotech Management Co. will remain in its 10,300-sf space at 9690 Deereco Rd. in Timonium, MD, and investment banking company Morgan Stanley will continue to occupy space on two leases accounting for a total of nearly 15,000 sf at the Greenspring Station complex of office buildings in the northern portion of the county.

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.”

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