University of Maryland Faculty Physicians Inc. renews and expands at 250 W. Pratt
7 Mar, 2012, Baltimore
Cushman & Wakefield, the world’s largest privately-held commercial real estate services firm, today announced that University of Maryland Faculty Physicians, Inc. (FPI), formerly known as University Physicians, Inc., has renewed and expanded its lease at 250 W. Pratt St., a premier address in downtown Baltimore. FPI, the faculty practices of the University of Maryland School of Medicine, now occupies 61,993 square feet in the building after a 25,102-square-foot expansion. Tim Jackson, Courtenay Jenkins and Whitney Nye of Cushman & Wakefield represented the landlord, Behringer Harvard Funds. Matthew Haas and Kevin Haus of Colliers International represented the tenant, FPI.
“The new Faculty Physicians lease represents the continued expansion of healthcare related companies in the building,” said Whitney Nye, associate director with Cushman & Wakefield. “250 W. Pratt St. offers FPI the unique opportunity to be within walking distance of the University of Maryland Medical Center while maintaining a prestigious Pratt St. identity.”
Behringer Harvard REIT I, Inc., an Addison, Texas-based real estate investment trust, bought the 368,194 square foot building in December 2004 for approximately $52 million. As of March, 2012, the building was 91% leased. 250 W. Pratt St. is a premier 24-story Class A office property with views overlooking Camden Yards and Baltimore city and is convenient to Interstate 95, Interstate 83 and the MTA Metro. The building earned an Energy Star designation from the Environmental Protection Agency in 2008.
For further information, please contact:
Bryna Connelly Schaum