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Caves Valley Partners is progressing nicely on its Stadium Square development.
The South Baltimore project, named for its close proximity to M&T Bank Stadium, has landed Employee One Benefit Solutions as its newest tenant on a 9K SF lease, Caves Valley announced on Tuesday. The employee benefit management company, also known as EOne, will move from the Otterbein neighborhood to take space on the second floor of the six-story, 72K SF building.
EOne will join financial services firm Janney Montgomery Scott, which is already up and running at 145 West Ostend St., and Spaces, the coworking operator that will open its 35K SF location (its first in Baltimore) in October. Caves Valley anticipates announcing several more leases of "national" tenants in the coming weeks. From what has already been announced, 145 West Ostend is already 69% leased.
The momentum gives Caves Valley confidence in moving forward with the next office phase of Stadium Square, planning a groundbreaking for its second of three office buildings for late this year or early next year. At full build-out, Stadium Square will contain 300K SF of office space.
The first Ostend Street building was part of the second overall phase, which also included the 299-unit apartment building Hanover Cross Street. Three hundred fifty-one more units are planned for Stadium Square overall, to join 70K SF of total retail and garage parking for 2,000 cars.
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