- The office property is 96% leased
Columbia Property Trust, Inc. has announced that it has finalized a renewal and extension of T. Rowe Price Associates’ lease that will keep the global investment manager at 100 East Pratt Street in Baltimore through 2027.
T. Rowe Price, which serves as the anchor tenant for the iconic Baltimore property and has approximately 1,300 employees on-site at its worldwide headquarters, will continue to occupy a ground floor Investor Center and 12 floors totaling 424,877 square feet. Terms of the lease were not disclosed.
Columbia Property Trust has owned the 652,988-square-foot Class A+ building since 2005. Long a fixture of Baltimore’s Inner Harbor with T. Rowe Price as one of its original tenants, 100 East Pratt Street includes a 10-story office building completed in 1978 and a 28-story tower finished in 1991. The office property is 96% leased.
“Retaining T. Rowe Price was one of our top priorities for 2013, and we have worked closely with them for a number of months to ensure that our mutual long-term goals for this property, our shareholders and the community could be achieved,” noted Nelson Mills, President, CEO and Director of Columbia Property Trust. “We are pleased they have made such a strong commitment to downtown Baltimore and to 100 East Pratt.”