Armada Hoffler Properties will soon expand its footprint in Baltimore.

The firm will acquire Thames Street Wharf, a trophy office tower along the waterfront in the city’s popular Harbor Point development. KBS will sell the property for $101m. CBRE marketed the asset on behalf of the seller.

H&S Properties Development Corp. and built by Armada Hoffler Construction were developed Thames Street Wharf. The eight story tower first opened its doors in 2010. The asset features roughly 1,500 square feet of retail space. It is 100 percent occupied.

Thames Street Wharf will be Armada’s third major asset in the 27-acre Harbor Point neighborhood. The vertically integrated REIT also recently claimed a controlling interest in 1405 Point, formerly Point Street Apartments, a 289-unit luxury high-rise. Additionally, the company is currently developing Wills Wharf, a 325,000-square-foot mixed-use project.

Source:CP Executive

Fulya Altunyay/[email protected]