Armada Hoffler Finalizes Lease Extension and Expansion With Morgan Stanley at Thames Street Wharf in Harbor Point

Rhea-AI Summary

Armada Hoffler (NYSE: AHH) has announced a lease extension and expansion with Morgan Stanley at Thames Street Wharf in Baltimore, increasing their total lease to 242,000 square feet until 2035. This expansion adds 46,000 square feet to the existing lease of 196,000 square feet. Thames Street Wharf is currently 100% occupied and home to several major corporate tenants. The area is recognized as a leading destination for class A companies due to its waterfront views and mixed-use development potential.

Positive

• Morgan Stanley's lease extension reflects strong demand for office space in Harbor Point.
• Thames Street Wharf achieves 100% occupancy, indicating a vibrant leasing environment.
• The development is strategically located with access to amenities and a waterfront park.

Negative

• None.

Global financial services leader increases total office commitment to 242,000 square feet at Thames Street Wharf

VIRGINIA BEACH, Va., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) announced that it has finalized a lease extension and expansion with Morgan Stanley at the Company’s Thames Street Wharf office building in Baltimore’s Harbor Point neighborhood. The global financial services leader leased an additional 46,000 square feet at the building.

With its initial 196,000-square-foot lease at Thames Street Wharf Morgan Stanley will now have a total presence of 242,000 square feet in Thames Street Wharf at Harbor Point into 2035.

Harbor Point is home to a compelling roster of corporate office tenants. Morgan Stanley is joined by T. Rowe Price, Constellation Energy Group, Transamerica, EY, and RBC Wealth. In July 2022, Armada Hoffler executed a 60,000-square-foot lease with investment management firm Franklin Templeton at Wills Wharf.

Thames Street Wharf is currently 100% occupied.

“Morgan Stanley’s extension and expansion continues to validate our strong belief that Harbor Point is the top destination for class A companies in the region,” said Louis Haddad, President and CEO of Armada Hoffler. “The community’s trophy office buildings, complemented by what will ultimately be nearly 1,000 luxury apartments and some specialty retail, all surrounding a 5-acre waterfront park, make Harbor Point the premier destination for the top demographic in each of its asset classes.”

Positioned at the gateway to Baltimore’s Inner Harbor with unparalleled waterfront views, Thames Street Wharf is located within walking distance to all amenities and open spaces that Harbor Point has to offer. Longtime partners Armada Hoffler and Beatty Development Group have established Harbor Point as Baltimore’s largest downtown waterfront development site with capacity for up to 3 million square feet of mixed-use space on 27 acres.

In addition to Thames Street Wharf, Armada Hoffler’s Harbor Point assets include both Constellation Energy and Wills Wharf office buildings, as well as 1405 Point Street and 1305 Dock Street apartments and retail. The Company is also in partnership with Beatty Development Group to build mixed-use developments, Allied | Harbor Point, and T. Rowe Price’s new global headquarters in Harbor Point.

To learn more about Harbor Point visit www.harborpoint.com.

About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust with over four decades of experience developing, building, acquiring, and managing high-quality office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. We also provide general construction and development services to third-party clients, in addition to developing and building properties to be placed in our stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.

Contact:
Chelsea Forrest
Armada Hoffler
Director of Corporate Communications and Investor Relations
Email: CForrest@ArmadaHoffler.com
Phone: (757) 612-4248

FAQ

What is the significance of Morgan Stanley's lease extension at Thames Street Wharf?

Morgan Stanley's lease extension signifies strong demand for office space in Baltimore's Harbor Point, enhancing the area's reputation as a prime location for class A companies.

How much total office space has Morgan Stanley leased at Thames Street Wharf?

Morgan Stanley has leased a total of 242,000 square feet at Thames Street Wharf after expanding their lease by 46,000 square feet.

What is the current occupancy status of Thames Street Wharf?

Thames Street Wharf is currently 100% occupied, indicating high demand for office space in the area.

What other companies are tenants in the Harbor Point area?

Other tenants in the Harbor Point area include T. Rowe Price, Constellation Energy Group, Transamerica, EY, and RBC Wealth.