Planning to Consolidate, the Baltimore Staple Enlists CBRE to Sell Two Existing Headquarters Buildings
Commercial real estate leader CBRE Group, Inc. has been enlisted by McCormick & Company in the sale of two of its headquarters buildings, together totaling over 273,000 gross sq. ft. of office space—and 60 acres of land—in a desirable and space-restricted submarket. The announcement follows news of McCormick’s plans to consolidate its four current headquarters buildings into a single 323,000 sq. ft. corporate campus in Hunt Valley, Maryland.
“This sale presents potential buyers with a rare owner-user opportunity in one of Baltimore’s best performing submarkets,” said Kevin Wille, Executive Vice President, CBRE. “Further, it gives them the chance to own a truly unique piece of Baltimore’s business history.”
The first facility, 211 Schilling Circle, is a four-story office building that comprises an area of 128,471 gross sq. ft. on six acres of land in Hunt Valley, Maryland. The second, slightly-larger facility, 18 Loveton Circle, is a five-story office building that encompasses 145,271 sq. ft. on 54 acres in Sparks, Maryland, leaving ample land for potential development by its future owner. McCormick is expected to vacate the spaces by the end of 2018.
“While long-planned as part of our headquarters consolidation strategy, moving out of these facilities will certainly be bittersweet,” said Lori Robinson, Vice President, Corporate Communications & Corporate Branding, McCormick. “For over three decades, thousands of our employees have come through the doors every morning to grow McCormick into the global leader that it is today. For that, 211 Schilling Circle and 18 Loveton Circle will forever hold an immense place in McCormick’s history.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
