Newmark today announced it has been appointed as the exclusive office leasing agent for One East Pratt Street located in downtown Baltimore, MD, adjacent to the Inner Harbor. Recently purchased by an affiliate of Banyan Street Capital LLC and Oaktree Capital Management, L.P., the 356,016-square-foot building is located at the corner of East Pratt and Light Streets and close to the major transportation arteries of the Baltimore-DC metro region, including Interstates 95, 295 and 83.
The building features floor to ceiling glass windows, panoramic views of the Inner Harbor and on-site parking. On-site retail includes Kona Grill, Sullivan’s Steakhouse, Filicori Café and PNC Bank. PNC Bank’s local headquarters is also located in the building. Banyan Street Capital plans renovations to the building including a state-of-the-art fitness center, tenant lounge and an innovative conference center.
Newmark’s Executive Managing Director Dan Callihan will lead the leasing at One East Pratt.
“We are looking forward to showing potential tenants the building’s spectacular views of the Inner Harbor, the easy access to downtown Baltimore’s waterfront, restaurants, shops, hotels, attractions and other destinations and vicinity to the major transportation arteries,” said Dan Callihan.
About Banyan Street Capital
Banyan Street Capital is a private equity firm that acquires and manages properties directly or in joint ventures with institutional capital providers. The firm currently manages in excess of 10 million square feet of office properties. The firm’s principals have been involved in the acquisition of over $4 billion of real estate assets and have successfully executed disposition strategies including the sale of operating businesses and real estate portfolios in excess of $1 billion to publicly-traded REITs.
About Oaktree Capital Management
Oaktree Capital Management is a leading global alternative investment management firm with approximately $100 billion in assets under management as of December 31, 2017. Among Oaktree’s global clients are 75 of the 100 largest U.S. pension plans, over 400 corporations around the world, over 350 endowments and foundations globally, over 15 sovereign wealth funds and 38 of the 50 primary state retirement plans in the United States.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.