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1 South Street

Stifel Financial Corp Leases 35000 Square Feet At Wills Wharf Baltimore From Lou Haddad
LEASEDOffice

Stifel Financial Corp Leases 35000 Square Feet At Wills Wharf Baltimore From Lou Haddad

1 South Street

Building Size

35,000 SF

Asset Type

Office

Closing

Jul 10, 2024

AI

The asset involved in this transaction is an office property located at 1 South Street in Baltimore, MD, with a total area of 35,000 square feet. The property is part of the Wills Wharf building at Harbor Point and contributes to the overall occupancy of Harbor Point’s office spaces, which now stands at 98%.

Summary of transaction details:

The key individuals involved in this deal include Lou Haddad as the landlord representing Armada Hoffler, along with Peter Jackson from JLL acting as the landlord's representative. Stifel Financial Corp. secured the lease with representation from Courtenay Jenkins and David Downey Jr. of Cushman & Wakefield.

Players

Courtenay Jenkins

Cushman & Wakefield

Broker

1 deal

Broker

Baltimore Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93