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News release

BALTIMORE, MD

Beatty Development Selects JLL as Exclusive Office Broker for Baltimore’s Harbor Point Development

JLL will leverage firm’s deep global resources and expertise to continue momentum and success of innovative mixed-use project


Baltimore, MD, Mar. 31, 2016 – Beatty Development Group has selected JLL as the exclusive office broker for Harbor Point, a planned 3 million-square-foot mixed-use development that will include 1.6 million square feet of Class A office, 200,000 square feet of retail, 220,000 square feet of hotel and 910 residential units.
Located between Harbor East and historic Fells Point, the 27-acre Harbor Point is a vibrant, highly integrated neighborhood with a focus on sustainability and innovation. As the city’s largest downtown waterfront site yet to be fully developed, Harbor Point will showcase Baltimore’s urban renaissance. The neighborhood will feature 9.5 acres of thoughtfully designed public open space, including waterfront parks and a promenade along the water’s edge.

Later this year, the Exelon Building at Harbor Point will open and serve as the new headquarters of Exelon’s Constellation Business Unit. The building includes 443,000 square feet of Class A office space, 103 apartments— named 1305 Dock Street—and 40,000 square feet of retail space.

In January of this year, construction commenced on 1405 Point Street, a 17-story apartment building containing 289 residential units and 18,000 square feet of street-level retail. This follows the 2010 completion of Thames Street Wharf—the first building on Harbor Point and home to Morgan Stanley and Johns Hopkins Medicine International—a 275,000-square-foot office building with 1,440 square feet of retail. 

JLL’s initial focus will be to identify an anchor tenant for Wills Wharf, a 220,000-square-foot office tower. The building will introduce new trophy product into the downtown market, which saw Class A vacancy drop at the end of 2015 to 10.4 percent, a seven-year low. The building will also feature a 156-room Hilton Canopy Hotel with a waterfront lobby and a restaurant with an outdoor terrace offering dramatic views of the Inner Harbor.

“Building upon our great momentum and success, we are confident that the demand for highly efficient, flexible and well designed office space in a truly mixed-use environment will remain strong,” said Michael Beatty of Beatty Development Group. “Given JLL’s extensive global reach and its highly experienced and interconnected collaborative teams, we are confident we have identified the right partner for Harbor Point going forward.”

The project will be led by JLL’s Greater Baltimore Market Director Mark Levy, Senior Vice President Terri Harrington and Vice President Jon Manekin working in close conjunction with Bob VeShancey, who leads the JLL’s Mid-Atlantic Agency Leasing Practice. The team also includes multi-disciplinary experts from JLL’s National Agency Leasing Practice, National Headquarters Practice Group and Business, Economics and Incentives Team.
“Baltimore is a world-class city with a dynamic, highly educated workforce drawn to the city’s resurging live/work/play environment, all coupled with some of the most important educational and cultural assets in the country,” said Levy. “It is our distinct privilege to work with Beatty Development Group to showcase Harbor Point, the city of Baltimore and the state of Maryland to a global audience and further deepen the corporate base already firmly established in the city.”

About Beatty Development Group
Founded in January 2013 by Michael S. Beatty, Beatty Development Group is a Baltimore City-based mixed-use development firm. In his previous career, Beatty co-founded and led Harbor East Development Group, which developed 6 million square feet of hotel, office, retail and residential space. Beatty Development Group continues its dedication to smart development and specializes in creating contemporary, design-forward buildings in urban settings. The firm’s signature project, Harbor Point, is currently under construction and will be the site of Exelon’s Baltimore headquarters alongside 1,000 apartment units, 200,000 square feet of retail space, 1.6 million square feet of office space, 9.5 acres of waterfront parks and a promenade along the water’s edge. Beatty Development Group is also working on a mixed-use development adjacent to Johns Hopkins University’s Charles Village campus.
 
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.