News

Downtown Building Reaches Highest Occupancy in 14 Years

MacKenzie Commercial Real Estate Services, LLC is proud to announce that with four new tenants signing in 2015 totaling more than 19,000 square feet, 20 S. Charles Street has achieved an occupancy rate of 86.1%, the highest rate the building has seen since the 3rd quarter of 2001. The new tenants are Appereon Business Solutions, Inc., Salsbury & Sullivan, The Law offices of Timothy A. Dachille, and Humphreys, McLaughlin & McAleer. MacKenzie Vice President Jim Grieves provided landlord advisory services in the transactions noted above.

The 12-story, 121,438 square foot Class A office building was purchased by Sky Management in July 2012 and MacKenzie was hired to market the property. At the time of sale, the property’s occupancy rate was 43.7%.

“We are continuing to see a good amount of activity at 20 S. Charles Street and are focusing efforts on filling the remaining available suites,” stated Jim Grieves of MacKenzie.“Remaining space configurations include six suites ranging in size from 936 square feet to 4,064 square feet.”

The building underwent major renovations since Sky Management has taken ownership including building lobby renovations, upgraded restrooms, elevators, and HVAC upgrades. The finished product, coupled with the building’s desirable CBD location has helped to reposition the asset as a more current and competitive option for businesses seeking a downtown location.

“When we purchased the building in 2012, we knew it had the potential to regain a competitive status within the downtown market,” stated Joe Righter, Managing Director of Sky Management. “With much needed building upgrades and the leasing expertise of MacKenzie’s platform, we have been able to reach our goals, and look forward to reaching 100% occupancy.”

For more information and leasing inquires contact Jim Grieves, Vice President of MacKenzie Commercial Real Estate Services at jgrieves@mackenziecommercial.com or 443-573-3202.

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MacKenzie Ventures, LLC (MacKenzie) possesses the multi-disciplined team necessary to excel in Maryland’s corporate real estate community. Comprising seven firms, MacKenzie provides clients a competitive, full service platform of offerings in leasing, sales, investment sales, tenant and landlord advisory services, corporate and business consulting, commercial and residential development, general construction, property and asset management, debt and equity capital placement, and market research. With more than 150 employees and offices in Annapolis, Baltimore, Bel Air, Columbia, and Lutherville, Maryland, MacKenzie is one of the largest full service commercial real estate firms in the Mid-Atlantic. Please visit www.mackenziecommercial.com for more information.