BALTIMORE-After having briefly considered a move to another downtown building, SunTrust, Maryland has renewed its commitment to its long-time home by signing a 10-year lease renewal at 120 E. Baltimore St. The bank has kept its regional headquarters at the 327,700-sf office property since its completion in 1989; the lease was scheduled to expire this summer.

Manekin LLC negotiated the lease, the financial terms of which have not been disclosed. Manekin is presently marketing space in the class A building at $19 to $23 per sf.

Originally donned the Bank of Baltimore Building, 120 E. Baltimore St. is a 25-story tower that is also home to the likes of law firm Ober Kaler and Mercer Human Resource Consulting LLC. “SunTrust’s continued tenancy is a testament to the value the bank places in this market,” says Matt Haas, a Manekin vice president. “It is no coincidence that the vacancy rate for class A buildings in the Central Business District is 15%, and 120 E Baltimore St. is 8%.”

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