Preston Partners, Inc. Represents Buyer in Downtown Sun Life Building Investment
February 19, 2007
Baltimore -- February 19, 2007 -- Preston Partners, Inc. announced today that Jeffrey R. Pacy and Cris D. Abramson represented Asset Capital Corporation of Bethesda, Maryland in its investment in the Sun Life Building, located at 20 S. Charles Street, Baltimore, Maryland. The building, designed by Emery, Roth & Sons, one of the oldest and most prolific architecture firms in the U.S., occupies the southeast corner of Hopkins Plaza.
Asset Capital purchased a controlling interest in the 121,000 square feet, 12-story office building with underground parking that can accommodate more than two per thousand square feet parking to new tenants.
The building has many professional and law firms including an office suites floor aimed at individual attorneys and small law firms. The building has two full floors available for lease and the owners are examining the potential of first floor retail targeted at financial or service firms.
Blair Fernau, Vice Chairman and Chief Investment Officer of Asset Capital Corporation , stated that “We like the location, the building’s history, and the combination of existing long-term quality tenants and additional rental income through lease-up of the vacant spaces. The floor plates work well for single or multiple tenants and the parking ratio is very attractive to professional firms.”