November 7, 2022
Morgan Stanley adds more space at Thames Street Wharf in Harbor Point
By Jessica Iannetta at Baltimore Business Journal
Morgan Stanley is expanding its presence at Harbor Point, adding 46,000 square feet to its office space and extending its lease through 2035.
The New York financial giant will now have a total of 242,000 square feet in Thames Street Wharf, making the office building fully occupied, Armada Hoffler, the building’s owner said Monday. Morgan Stanley (NYSE:MS) previously had a lease for 196,000 square feet that ran through 2027. Other tenants in the building include Johns Hopkins Medicine and Virginia Beach, Virginia-based Armada Hoffler’s local offices.
Armada Hoffler (NYSE: AHH), whose construction arm built Thames Street Wharf, bought the 263,426-square-foot trophy office building on the waterfront for $101 million in 2019.
The Morgan Stanley deal marks the second big lease at Harbor Point in recent months. Armada Hoffler signed Franklin Templeton to a 60,000-square-foot deal at the nearby Wills Wharf building in July.
Other high-profile tenants at Harbor Point include Constellation Energy Corp., Exelon Corp., Transamerica, RBC Wealth, EY and soon T. Rowe Price Group Inc., which is building a new 550,000-square-foot headquarters there set to open in 2024.
Harbor Point Parcel 3
Outside of the office space, Harbor Point also boasts luxury apartment towers, a Canopy by Hilton hotel and retail space. In addition, Armada Hoffler is partnering with Beatty Development Group on the mixed-use Allied | Harbor Point site, which will feature two apartment buildings, retail space and a pedestrian plaza. A 152-key Residence Inn by Marriott is also planned for the site.
“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, in a statement. “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.”