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540,000 SF 540,000 SF of Deloitte transactions in the region E 1.9 Million SF 1.9 Million SF of transactions in the region in 2013 Single Single point of contact since 2008 Based Based in the Baltimore-Washington marketplace
BALTIMORE MARKET INFORMATION Q1 2014 OFFICE TRENDS 10-YEAR TREND FIRST QUARTER 2014 VACANCY 13.1% Vacancy rate up ABSORPTION (487,000) SF Move-outs hamper gains RENTAL RATE $20.27 PSF Slight increase OFFICE NET ABSORPTION AND VACANCY NET ABSORPTION IN MILLIONS DIRECT VACANCY RATE 0.6 16% 0.4 14% 0.2 12% 0.0 10% -0.2 8% -0.4 6% -0.6 -0.8 4% 05 06 07 08 09 10 11 12 13 14* *At fi rst quarter 2014 SOURCE CoStar, Transwestern; March 2014.
APPROACH & METHODOLOGY OF TRANSACTION PROJECT INITIATION/DATA COLLECTION LEASE REVIEW BASE CASE SCENARIO LANDLORD EXPECTATIONS (DOWNSIZE & RENEW) SPACE USAGE PRELIMINARY LOCATION OPPORTUNITIES LOCAL STAKEHOLDER INPUT COMPETITOR MARKET RENTS LOCATION TALENT REFINED LOCATION CLIENT LANDLORD OPPORTUNITIES LOCATION MEETINGS MARKET INTELLIGENCE EMINENCE DRIVE TIMES QUALITATIVE & SITE SELECTION QUANTITATIVE SCORECARD ANALYSIS RECOMMENDATIONS
100 S. CHARLES STREET Cornerstone purchased in Infrastructure renovations ongoing Ellin&Tucker vacating “debt” portfolio in 2011 10.1.2014 Considerable turnover in fi rst fl oor Vintage 1980 retail tenancy 17 TH FLOOR – 8,130 SF AVAILABLE Solid B+ Building ELLIN & TUCKER (MOVING 10/1/14) Excellent location, 19,180 SF (DIVISIBLE) 2 blocks AVAILABLE from waterfront DELOITTE Retail component shared with Tower II Historically very low vacancy Nondescript curb appeal
PROPOSED RESTAURANT (NEW CONSTRUCTION) PROPOSED EXPANSION AREA 1,800 SF 10,883 SF COMBINED Exterior Entrance
RELOCATION ALTERNATIVES 400 E. Pratt St. 100 E. Pratt St. 500 E. Pratt St. 5 7 100 S. Charles St. 6 1 2 4 CBD OPTIONS 1 111 S. CALVERT ST. 8 Strengths: 1 E. Pratt St. • Location/Image • Amenity base • Hotel attached Challenges: • Floor plate design 2 401 E. PRATT ST. Strengths: • On Waterfront • Views • Proximity to Amenities Challenges: • No on-site parking • Pentagon shape • State tenancy
100 International Drive 621 E. Pratt St. 3 10 9 11 12 SOUTH EAST OPTIONS 3 111 MARKET PL. 5 1 SOUTH ST. 7 7 ST. PAUL ST. 9 650 S EXETER ST. 11 100 INTERNATIONAL DR. Strengths: Strengths: Strengths: Strengths: Strengths: • Location • Iconic Market Image • Atop Metro stop • Live/Work/Play • Premiere Offi ce Tower • Views • Value rental • Market Image • Effi cient Floor plate • Views Challenges: Challenges: Challenges: Challenges: Challenges: • Class B+ • Punch Windows • Distance from waterfront • Emerging Location • Cost • Floor plate size • Neighborhood • Floor-plate design • Ingress/egress • Floor plate jogs 4 100 LIGHT ST. 6 500 E. PRATT ST. 8 323-351 W. CAMDEN ST. 10 1001 FLEET ST. 12 1300 THAMES ST. Strengths: Strengths: Strengths: Strengths: Strengths: • Completely renovated • Location • Signage Opportunity • Live/Work/Play • Newest construction • Location/views • Penthouse Opportunity • Signature Identity • 1 block to waterfront • Full height glass Challenges: Challenges: Challenges: Challenges: Challenges: • Curb appeal • Local Competitor • Location • Emerging Location • Pioneering location • Limited building amenities • Retail component • Window-line • Ineffi cient fl oor plate • 1st fl oor availability
CBD OPTIONS 111 S. CALVERT ST. 1 3 1 Stories: 28 Total Building: 544,453 SF Available: 15th Floor: 8,639 SF 23rd Floor: 8,293 Parking: 0.67/1,000 SF LL Rep: Cushman & Wakefi eld 2 401 E. PRATT ST. Stories: 30 Total Building: 296,139 SF Available: 4th Floor: 5,000 – 11,300 SF 8th Floor: 5,000 – 11,300 SF 18th Floor: 5,000 – 11,300 SF 23rd Floor: 8,140 SF 4 28th Floor: 11,300 SF Parking: No on-site 2 LL Rep: MD Port Authority 3 111 MARKET PL. Stories: 12 Total Building: 559,996 SF Available: 10th Floor: 13,000 SF Parking: 20 free Surface Spaces are available LL Rep: JLL 4 100 LIGHT ST. Stories: 35 Total Building: 686,947 SF Available: 25th Floor: 4,000 – 15,614 SF 26th Floor: 4,000 – 15,614 SF Parking: 0.50/1,000 SF LL Rep: JLL
1 SOUTH ST. 5 5 7 Stories: 30 Total Building: 478,968 SF Available: 12th Floor: 3,000 – 20,917 SF 18th Floor: 11,905 SF Parking: 1/1,000 SF LL Rep: JLL 500 E. PRATT ST. 6 Stories: 13 Total Building: 279,716 SF Available: E PENT: 10,605 SF Parking: 3.20/1,000 SF LL Rep: Cushman & Wakefi eld 7 7 ST. PAUL ST. Stories: 24 Total Building: 377,181 SF 6 Available: 7th Floor: 2,000 – 20,237 SF 8th Floor: 2,000 – 13,127 SF 12th Floor: 9,859 SF 15th Floor: 19,656 SF Parking: 209 Covered Spaces are available LL Rep: Cassidy Turley
SOUTH EAST OPTIONS 650 S EXETER ST. 9 11 9 Stories: 12 Total Building: 243,540 SF Available: 10th Floor: 10,290 SF Parking: 3/1,000 SF LL Rep: Cassidy Turley 10 1001 FLEET ST. Stories: 9 Total Building: 213,000 SF Available: 7th Floor: 9,500 – 28,735 SF Parking: 1/1,000 SF 10 LL Rep: Cassidy Turley 11 100 INTERNATIONAL DR. Stories: 24 Total Building: 623,000 SF Available: 15th Floor: 26,842 SF 16th Floor: 27,594 SF 17th Floor: 11,500 – 26,129 SF 18th Floor: 11,500 – 24,665 SF 21st Floor: 8,090 SF 24th Floor: 11,587 SF 12 Parking: 1/1,000 SF LL Rep: Cassidy Turley 12 1300 THAMES ST. Stories: 7 Total Building: 260,000 SF Available: 1st Floor: 34,111 SF Parking: 3/1,000 SF LL Rep: CBRE
“WILD CARD” OPTION - THE WAREHOUSE 8 • Owned by Maryland Stadium Authority • 1st building off I-95 exit • 10,000 SF available • “Signage opportunity” • Limited glass line but loaded with personality • Average of 30,000 spectators per game
TRANSWESTERN & DELOITTE
A TRUE SERVICE PARTNERSHIP
Presented To: Presented By: JOHN CONNOLLY JOVI MCANDREW TOM GENTNER Senior Vice President Senior Vice President 301.896.9122 443.285.7671 jovi.mcandrew@transwestern.com tom.gentner@transwestern.com
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