&Wealth Partners has leased space at Brown’s Wharf, and according to JLL, which is handling leasing, the property has drawn significant interest from potential tenants.
&Wealth Partners, a boutique financial advisory firm that works exclusively with women, will be relocating its Towson-area office to Brown’s Wharf in Baltimore’s Fells Point neighborhood. The firm also has offices in the city’s Mt. Washington community and New York City.
“Brown’s Wharf brings together the best of what Baltimore City has to offer – a historic building with fresh design elements in a vibrant part of town on the water,” Dorie Fain, founder and CEO of &Wealth Partners said in a statement. “We are excited to invite people into this reinvented space in Fells Point. &Wealth is a nontraditional financial services firm, and we wanted an office environment that matched our brand. Brown’s Wharf is a unique environment with great energy.”
Continental Realty Corp. and WorkShop Development, which is overseeing day-to-day operations, plan to continue upgrading the 104,000-square-foot property at 1615-1617 Thames St. that was purchased as a joint venture for $21 million last spring.
The overhaul’s first phase, which involved improving retail storefronts, adding new lighting and signage and rebuilding the common area, is complete. The next phase of improvements will be focused on interior refinements.
At the time of the purchase the owners said they intended to spend “$2 million in fresh capital” to upgrade the property. Brown’s Wharf dates back to the 1800s and was expanded in 1988. The property consists of three buildings and a 270-foot waterfront promenade.
JLL’s office leasing team, including Tony Gross and Peter Jackson, is representing the owners in office transactions. Robert Manekin, senior vice president at JLL, said the building continues to draw significant interest, including several deals in various stages of negotiation. He credited the owners with positioning Brown’s Wharf to succeed via investments in property improvements and attractive lease terms.
“There’s nothing better than working for a smart client who understands what it takes to develop, lease and manage commercial real estate,” Manekin said.
Retail tenants at Brown’s Wharf include restaurant anchor Barcocina, Fell’s Point Surf Co. and Sofi’s Crepes. Johns Hopkins University is the largest office tenant at the project.
Continental Realty Corp., is a privately owned full-service commercial real estate investment and management company headquartered in Baltimore. It’s portfolio includes retail centers consisting of more than 3 million square feet of commercial space and nearly 10,000 apartment homes.
WorkShop Development is a Baltimore-based developer with a variety of projects, including The Shops at Canton Crossing and the mixed-use Bagby Building.
(Dorie Fain is a monthly financial services columnist for The Daily Record.)