CBRE announced it has been tapped by McCormick & Co. to sell the company’s two existing North Baltimore office market headquarters buildings. The properties total over 273,000 square feet of office space and 60 acres of land.
The first property, located at 211 Schilling Circle in Hunt Valley, Md., is a four-story office building of over 128,000 square feet, on 6 acres of land. The second headquarters building that is hitting the market is located slightly further north, in Sparks, Md. Encompassing over 145,000 square feet of office space, on 54 acres of land, the five-story office building at 18 Loveton Circle leaves room for additional development to the future owner.
CBRE Executive VP Kevin Wille stated that “this sale presents potential buyers with a rare owner-user opportunity in one of Baltimore’s best performing submarkets. Furthermore, it gives them the chance to own a truly unique piece of Baltimore’s business history.”
McCormick already announced the decision to consolidate operations from several buildings into one campus, which is also in North Baltimore. The destination of choice is 99 Shawan Road, in Hunt Valley. The company has been working with Greenfield Partners to redevelop the site and have it move-in ready by August 2018.
The six-story, 320,000-square-foot building is proposed for LEED Gold certification. Redevelopment efforts aim to increase space utilization, as well as energy efficiency and sustainability.
“While long-planned as part of our headquarters consolidation strategy, moving out of these facilities will certainly be bittersweet. 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,” said Lori Robinson, VP with McCormick.
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