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BISNOW EXCLUSIVE: THREE NEW LEASES IN SIX MONTHS AT DOWNTOWN FED BUILDING

BISNOW EXCLUSIVE: THREE NEW LEASES IN SIX MONTHS AT DOWNTOWN FED BUILDING
MacKenzie Commercial, Terri Harrington, Federal Reserve Bank, 502 S. Sharp St., Baltimore, MD, new lease, flight to quality, Catalyst IT Services, Better Business Bureau, Bierer & Margolis
MacKenzie Commercial's Terri Harrington tells us three tenants have signed new deals at the Federal Reserve's building downtown (502 S. Sharp St.) in six months totaling 15k SF. All the tenants (Catalyst IT Services, the Better Business Bureau, and Bierer & Margolis) are relocating from other Baltimore City locations, Terri says. She feels it's indicative of an overall flight to quality. (We've always wondered: If a major airline moved its HQ here, would that be a flight to flight to quality.) The Fed owns and occupies the 250k SF building but brought 47k SF to the market when it decided to cut its check-processing operations there. About 32k SF is left, Terri tells us, and it's the Fed's only Baltimore-area location.