March 14, 2018
Brown’s Wharf Attracts First Commercial Office Tenant and Completes First Phase of Comprehensive Renovation Program
Brown’s Wharf, a historic mixed-use project situated along the Fells Point waterfront in Baltimore City, has attracted its first commercial office tenant since being acquired by CRC, a Baltimore-based real estate investment and management company last spring. CRC is partnering with WorkShop Development, which is overseeing the day-to-day operations of the 104,000 square foot asset located at 1615-1617 Thames Street, as well as executing the comprehensive redevelopment program. &Wealth Partners, a boutique financial advisory firm, plans to relocate its Towson-area offices to Brown’s Wharf within the next several months.
Founded by Dorie Fain, &Wealth Partners works exclusively with women to provide individualized financial planning, investment and asset management guidance, and resources to help navigate through a divorce. The firm also maintains offices in the Mt. Washington area of Baltimore City, as well as New York City.
“Brown’s Wharf brings together the best of what Baltimore City has to offer – a historic building with fresh design elements in a vibrant part of town on the water,” explained Dorie Fain, Founder and CEO of &Wealth Partners. “We are excited to invite people into this reinvented space in Fells Point. &Wealth is a nontraditional financial services firm, and we wanted an office environment that matched our brand. Brown’s Wharf is a unique environment with great energy.”
The first phase of the redevelopment strategy, outlined by CRC at the time of the purchase, is now complete. This includes the upgrading of the retail storefronts overlooking Thames Street, the installation of a new lighting and signage package, and the rebuilding of the common areas of the 1629 Thames Street building. Additional improvements will focus on the upgrade of the interior building systems.
“Our capital improvement program remains on schedule, fulfilling our pledge to significantly upgrade Brown’s Wharf to reflect the continuing renaissance of Southeast Baltimore City,” said JM Schapiro, CEO of Continental Realty Corporation. “In the past few years, Southeast Baltimore has welcomed relocated corporate headquarters, new restaurant and hotel concepts, highly amenitized multifamily housing projects, and an improved Broadway Square. We intend to expand this vitality with the elevation of Brown’s Wharf as another destination project.”
Originally constructed in the 1800s and renovated and expanded in 1988, Brown’s Wharf consists of three brick and stone buildings and a 270-foot waterfront promenade. The largest tenant at Brown’s Wharf is The Johns Hopkins University, including Jhpiego and Cognitive Research. The restaurant anchor is Mexican-themed Barcocina. The other retail-level tenants are CFG Community Bank, Kilwin’s Chocolates and Ice Cream, Ten Thousand Villages, Sofi’s Crepes, 7-Eleven, Fells Point Surf Company, and aMuse Toys of Fells Point.
“As we have made progress on our redevelopment strategy, we have experienced a strong uptick in leasing interest,” explained Doug Schmidt, Principal at WorkShop Development. “Our goal is to create a community of businesses that will be successful in Fells Point and add to the creative energy of the area. We expect to announce additional leases in the near future.”
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $2 billion.
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