300 E Lombard St, Baltimore, MD, 21202-3219, US

300 E Lombard

Asset description

JLL's Mid-Atlantic Capital Markets group, in conjunction with RealInsight Marketplace, is excited to present the exceptional opportunity to acquire 300 East Lombard Street, a 20-story high-rise office tower located in Baltimore’s iconic Inner Harbor. This striking property boasts one of the most prestigious locations in Baltimore City, just 0.2 miles from the National Aquarium. Currently offered as a receivership sale, 300 East Lombard Street features a diverse tenant roster of 21 occupants and includes a potential 10-year lease with the State of Maryland for 51,108 square feet, increasing the building's occupancy from 49% to 66%.

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Attributes

Year built

1984

Year renovated

2000

Building area gross

22,175 sm

Occupancy

49%

Floors

Media

Investment highlights

Premier Location: The property, located in a vibrant area with waterfront views and popular tourist attractions, offers excellent accessibility, being just 0.3 miles from Interstate 83, 2 miles from Baltimore Penn Station, and an 18-minute drive to Thurgood Marshall Baltimore Washington International Airport.
Transforming Neighborhood: With the $1 billion Inner Harbor redevelopment, 300 East Lombard stands to benefit significantly from the area's growth.
Potential Upside: The ongoing conversion of obsolete office space to residential, coupled with a strong job market and growing demand for office space, presents an opportunity for future leasing activity and occupancy growth.
Flexible and Functional Floor Plates: This opportunity presents wide tenant appeal by featuring highly functional floor plates of over 16,600 square feet, accommodating both full-floor and multi-floor users while also being well-suited for smaller tenants requiring as little as 1,500 square feet. Current tenants include law firms, investment companies, and consulting firms, showcasing the building’s versatility and broad market appeal.
Comprehensive Amenities: The property offers a range of on-site amenities, including restaurants, a multi-level indoor parking garage, a gym, and a large conference center, making it a comprehensive and convenient destination for tenants.
Potential for In-Place Below-Market Loan Assumption: The current 4% coupon loan remains in place. The receiver may have the ability to extend the loan and write down the balance to the full purchase price amount.