30,000 square foot building, owned by Chesapeake Real Estate Group, LLC and Cicero Capital Partners, located at intersection of Bosley Avenue and Allegheny Avenue
Chesapeake Real Estate Group, LLC (CREG) and Cicero Capital Partners, LLC (CCP) have signed leases with two law firms totaling nearly 5,400 square feet of space within 210 Allegheny Avenue, to elevate the occupancy of the five-story, 30,000 square foot commercial office building to 62%. Forster & LeCompte, LLC signed a lease for 1,600 square feet of space and Chason, Rosner, Leary & Marshall (CRLM) leased 3,774 square feet of space within the building positioned in the central business district of Towson, Maryland in Baltimore County. Separate leases were signed with Stanley Black & Decker earlier this year for 13,200 square feet of total space. Brendan Lough and John Fulco of JLL represented CRLM and Christopher Murray, Vice President of Chesapeake Real Estate Group represented the landlord in both recent transactions.
Forster & LeCompte, relocating from Baltimore City, is a criminal defense law firm providing counsel at the trial, appellate and post-conviction stages. Chason, Rosner, Leary & Marshall, a full-service law firm, is moving to the building from the Towson area.
“210 Alleghany Avenue’s location within walking distance to the Baltimore County Courthouse building, as well as the numerous restaurant and retail amenities that are minutes away, was extremely attractive to both law firms,” explained Christopher Murray of Chesapeake Real Estate Group. “Both firms cited the recent exterior and interior upgrades completed, that positions the building as best-in-class in this sub-market, as important factors in their respective real estate decisions. Activity remains strong in the Towson area and we are negotiating with additional users.”
Chesapeake Real Estate Group and Cicero Capital Partners acquired the asset in fall 2016 and quickly instituted a $1 million improvement strategy highlighted by the installation of a new building exterior, window package and coating that created a modern appearance. Additional enhancements included new flooring and exterior signage, the renovation of all common areas and bathrooms and a reimagining of the first floor lobby.
210 Allegheny Avenue features 6,600 square foot floorplates to support multi-tenant uses ranging in the 1000 to 3000 square foot range while also accommodating full-floor requirements. The building is within walking distance to the central business core, including a number of business amenities including sit-down and fast-casual restaurants at all price points.
Chesapeake Real Estate Group, LLC, headquartered in Baltimore, Maryland, is a fully-integrated commercial real estate operating company that focuses on real estate development, leasing, property management and brokerage services. The company owns a diverse portfolio encompassing Class “A” industrial and commercial office properties, as well as retail centers. Chesapeake Real Estate Group also participates in joint venture partner arrangements on select investments. The firm currently has more than four million square feet of industrial projects planned or under construction in the Mid-Atlantic region and over four million square feet under management. Notable projects include the Perryman Logistics Center, Port 95 Industrial Park, Penn 95 Commerce Center, Baltimore Crossroads @95 and 210 Allegheny Avenue. For more information visit www.cregllc.com
Cicero Capital Partners, LLC, established in 2009, is an SEC registered investment adviser located in Columbia, Maryland. Cicero specializes in alternative asset management strategies, with expertise in commercial real estate assets, commercial mortgage backed securities, agency mortgages, and other public and private commercial real estate related securities and investments. For more information visit www.cicerocapitalpartners.com
