BRINGING AN MOB BACK TO LIFE
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|Ryan Commercial Real Estate Services? Bill Harrison (above, packing for this week's vacation) tells us the 16k SF Caton Professional Building southwest of Baltimore was half vacant when he convinced the owner to let Bill take over leasing two years ago. The second-floor tenant, a plastic surgeon, collected the insurance policy he got in case something happened to his hand (since we're not sitcom writers, we can't make this stuff up) and said goodbye to his practice and 1421 Caton Ave. The landlord had kept the outside nice and renovated the lobby, but the second floor looked like its last update was the early '90s (Picture it: Golden Girls, 1991).|
|No one was going to lease that space unless it was updated, and the owner wasn't going to update it without a lease, Bill says. How to get the tires out of the mud? A psychologist on a limited budget took half the space with minimal TIs. (?It's amazing what a little paint and carpet can do,? Bill says.) With an updated look, almost the rest of the second floor went to an endocrinology practice that Mercy Medical had purchased as part of its outreach into St. Agnes territory. Mercy got even more bang for it buck because the building is accessible via I-95?s north and south exit ramps, so the practice can serve Downtown and Howard County patients.|