PRESS ROOM




04.08.11 Kenwood acquires office and retail spaces of the B&O Building

Kenwood B&O, LLC an affiliate of Kenwood Management Company (www.kenwoodmgt.com), acquires Office and Retail spaces of the B&O Building, 2 North Charles Street, Baltimore, MD.


The property currently includes office, retail and hotel spaces. Kenwood B&O acquired the office and retail units, while Kimpton Hotels (operating as the Hotel Monaco) purchased the hotel unit. The B&O building is a 14 story property situated at Charles and Baltimore Streets in downtown Baltimore. It was built in 1906. The main lobby features stained glass windows, two marble staircases and crystal chandeliers. The property recently underwent an extensive renovation that restored its majestic main lobby and converted portions of the building to hotel rooms.


This acquisition represents Kenwood's first office acquisition in Baltimore's CBD. The office and retail spaces total approximately 65,000 square feet. Current tenants included the law firm of Franklin and Prokopik, BB&T Bank and Inner Harbor Dental Associates. Approximately 32,000 square of office space is available for lease. Kenwood will manage the property and has hired Nicole Keelty and Brian Wyatt from Cassidy Turley to assist with leasing.


Bill Singer represented Kenwood in this acquisition. Singer stated "we are very excited to be apart of this historic jewel in downtown Baltimore. It is a one-of-a-kind asset and we are honored to be associated with it. We believe that rental rates in the CBD have bottomed and will show improvement throughout 2011. We plan to retain this property as a long term hold in our portfolio."


Kenwood currently owns 1.1 million square feet of office and industrial space throughout the Baltimore and Washington Metro areas.


For more information, please contact Bill Singer at 301-656-7790.



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