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Ground Up

The Daily Record's real estate blog

Developer Greenberg Gibbons intends to open a second office at Annapolis Towne Centre this fall.

Greenberg Gibbons to open Annapolis office this fall

Greenberg Gibbons plans to open a second office location at its Annapolis Towne Centre development this fall.

The company will take 6,500 square feet of space at the three-story, 30,000-square-foot building with outdoor cafe seating, located next to Whole Foods. The property will have retail and restaurant space on the first floor and office space on the top two levels.

“This Retail and Office building offers a contemporary mixed-use space in the heart of Annapolis Towne Centre,” Tom Fitzpatrick, president of Greenberg Gibbons, said in a statement. “We’re excited to already be 87 percent leased and look forward to adding our final, high quality tenants.”

Planned tenants at the building include casual restaurant Newk’s Eatery; digital cable and internet provider Xfinity; commercial general contractor Chesapeake Contracting Group; real estate services firm Hogan Cos.; and financial services firm Alex. Brown.

The Annapolis area office market has been one of the top performing areas in that sector in the Baltimore metro area.

Last quarter, the Greater Annapolis submarket achieved a vacancy rate of 9.5 percent over the more than 3.7 million square feet of office space in that area, according to a report by Cushman & Wakefield. The overall average asking rental rate of $27.47 per square foot was the highest in the metro area.

Owing Mills-based Greenberg Gibbons’ other projects include Towson Row, Towne Centre at Laurel, and Hunt Valley Towne Centre.

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