The Baltimore Development Corp., the quasi-governmental economic development agency, issued the request for proposal on Thursday on behalf of the city. The parcel represents about a half-acre of land or about 23,612 square feet.
The plot of land is right next to the Edward A. Garmatz United States District Court, a block away from the Baltimore Convention Center and only a short walk from Oriole Park at Camden Yards.
The plot of land is zoned for dense business development and in a place to take advantage of a surging interest in Class A office space downtown, particularly in the Pratt Street corridor that’s experiencing a 5.5 percent vacancy rate in Class A buildings.
In a report released in July, JLL found Baltimore’s “skyline” rents had jumped to $25.26 per square foot, an 18.3 percent increase from the city’s average. It also found the city was constrained in its ability to add more space to the submarket because there were only three blocks of space greater than 30,000 square feet in the city’s skyline and limited supply in the pipeline.
Proposals to redevelop the lot must conform to the Pratt Street Redevelopment Plan and are due to the Baltimore Development Corp. by 4 p.m., Oct. 1.