Stadium Square developer Caves Valley Partners (CVP) has announced that Janney Montgomery Scott, a large, national full-service financial services firm, has signed the first office lease for the 145 West Ostend Street development, Stadium Square’s first completed office building. The six-story building has 72,000 sq. ft. of office space. Janney Montgomery Scott’s new office will occupy just under 6,000 sq. ft.
“Janney is thrilled to be opening an office in Baltimore City as we expand our footprint in Maryland,” said Tom Simcik, Regional Manager at Janney Montgomery Scott, in a press release. “This year, Janney Montgomery Scott is celebrating its 185th anniversary. We believe that Stadium Square will offer exactly what we need to successfully serve our clients and employees as we continue to grow and hit many more milestones.”
“We welcome Janney Montgomery Scott as the first office tenant at Stadium Square and we are excited they chose the project to open their first location in downtown Baltimore,” said Arsh Mirmiran, a partner at CVP, in a press release. “With its easy access to I-95, multiple modes of public transportation, and BWI airport, coupled with the city’s fastest broadband service and planned amenities surrounding the development, Stadium Square will soon be a hub for businesses in Baltimore.”
Janney Montgomery Scott is expected to occupy its new space by the end of the summer. CVP is currently negotiating leases with several other prospective tenants and expects to announce additional tenants for Stadium Square in the coming months.
Stadium Square is a $275-million redevelopment project on three blocks of South Baltimore and Sharp-Leadenhall located between Cross St. on the north, Race St. on the east, Leadenhall St. on the west, and both sides of Ostend St. to the south. The project will have approximately 650 apartments, 1,800 parking spaces, 375,000 sq. ft. of office space, and 75,000 sq. ft. of retail. The project’s first luxury apartment building, Hanover Cross Street, will open its doors in early June and is currently signing leases for the complex’s 299 apartments. Work is also underway at the former Vac Pac building at 150 W. Ostend St. It will be renovated and reused as an office building with ground floor retail.