Towson City Center Almost Fully Leased as Opening Nears
- May 14, 2012
The Towson Town Center is almost fully leased just weeks before opening. Cassidy Turley has been leasing the building on behalf of the owner Caves Valley Partners. On May 2, Cassidy Turley announced that only two floors of the 12-story building have not been leased.
Located on York Road, in the heart of Towson, the Towson City Center has been vacant since its closure in 2001. The building formerly housed an assortment of state and county offices, and was known as the Investment Building.
Caves Valley Partners acquired the building in 2010. In the spring of 2011, the Chesapeake Contracting Group (CCG) was selected to take charge of construction. It included complete facade renovations, concrete restoration, common area improvements, and much more.
Caves Valley Partners’ $27 million redevelopment project will turn what was once an eyesore in the middle of downtown Towson into a new, entirely glass curtain wall, 157,712-square-foot, Class “A” office building. The project is slated to achieve LEED-Gold certification and could bring as many as 500 workers to downtown Towson.
Towson University is the largest single tenant of the building. It has leased four floors totaling nearly 58,000 square feet, more than one-third of the building. The owners of the building—Caves Valley Partners and Mile One—will also lease four floors. One floor will be occupied by Business Suites and another by WMS Partners. In addition, Cunningham Kitchen will lease a portion of the lower level and part of the first floor. The building will also include The Wellness Center. It will be operated by Towson University and made available to Towson City Center tenants.
Only the fifth and sixth floor now remain unoccupied comprising a total of 24,000 square feet. Doug Brinkley, Senior Managing Director and Principal at Cassidy Turley, believes in the building’s power to attract tenants. “Towson City Center is strategically located at the crossroads of Towson. Current interest in the site is strong, due to the project’s highly visible location, efficient floor plate and views, and in-building parking,” he said in a press statement.
Image courtesy of Caves Valley Partners.