BALTIMORE-Canton Crossing Tower will become the new home of CareFirst BlueCross BlueShield now that the medical insurer has preleased 90,000 sf in the 500,000-sf tower. The site is on schedule for delivery in about a month or so.

With the assistance of Jones Lang LaSalle, the company secured a 10-year lease with the developer of the class A building, Hale Properties LLC. Financial terms of the CareFirst’s lease have not been disclosed; however, class A office space in Baltimore’s central business district goes for about $24.70 per sf, according to Delta Associates’ First Quarter 2006 Washington-Baltimore Office Market Report.

Located along the waterfront at 1501 Clinton St., Canton Crossing is part of the 67-acre mixed-use Canton Crossing development project, which will cost an estimated $1 billion to complete. The 17-story structure is also refereed to as the First Mariner Tower at Canton Crossing for First Mariner Bank, which preleased space in the office facility for its headquarters. CareFirst plans to relocate from its current location of approximately the same size at 100 S. Charles St. next year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.